United Technologies Corporation (UTX) Position Raised by Outfitter Advisors LTD.
Outfitter Advisors LTD. raised its position in shares of United Technologies Corporation (NYSE:UTX) by 140.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,955 shares of the conglomerate’s stock after buying an additional 12,825 shares during the period. Outfitter Advisors LTD.’s holdings in United Technologies Corporation were worth $2,464,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Heritage Trust Co purchased a new stake in United Technologies Corporation during the first quarter worth about $391,000. Buckingham Asset Management LLC increased its stake in United Technologies Corporation by 4.1% in the first quarter. Buckingham Asset Management LLC now owns 6,400 shares of the conglomerate’s stock worth $718,000 after buying an additional 253 shares during the period. Meristem LLP increased its stake in United Technologies Corporation by 5.3% in the first quarter. Meristem LLP now owns 2,614 shares of the conglomerate’s stock worth $293,000 after buying an additional 131 shares during the period. Intellectus Partners LLC increased its stake in United Technologies Corporation by 10.0% in the first quarter. Intellectus Partners LLC now owns 4,803 shares of the conglomerate’s stock worth $539,000 after buying an additional 435 shares during the period. Finally, Proffitt & Goodson Inc. increased its stake in United Technologies Corporation by 1.3% in the first quarter. Proffitt & Goodson Inc. now owns 11,798 shares of the conglomerate’s stock worth $1,324,000 after buying an additional 154 shares during the period. 78.85% of the stock is owned by institutional investors and hedge funds.
Shares of United Technologies Corporation (NYSE UTX) traded down 1.20% during mid-day trading on Friday, reaching $118.28. The company’s stock had a trading volume of 759,205 shares. The stock has a market capitalization of $94.48 billion, a P/E ratio of 18.02 and a beta of 1.06. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The company has a 50 day moving average price of $119.01 and a 200 day moving average price of $117.58. United Technologies Corporation also was the target of some unusual options trading activity on Tuesday. Stock traders acquired 9,806 call options on the stock. This represents an increase of approximately 461% compared to the typical volume of 1,748 call options.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the company earned $1.82 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is presently 42.68%.
COPYRIGHT VIOLATION WARNING: “United Technologies Corporation (UTX) Position Raised by Outfitter Advisors LTD.” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/09/01/united-technologies-corporation-utx-position-raised-by-outfitter-advisors-ltd.html.
A number of equities research analysts have issued reports on UTX shares. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Tuesday, May 16th. UBS AG boosted their price target on United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Jefferies Group LLC reissued a “buy” rating on shares of United Technologies Corporation in a research report on Thursday, July 27th. BidaskClub cut United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $125.00 price objective on shares of United Technologies Corporation in a research note on Sunday, August 13th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $123.95.
United Technologies Corporation Company Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
Receive News & Stock Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related stocks with our FREE daily email newsletter.