Cypress Capital Group Sells 9 Shares of United Technologies Corporation (UTX)
Cypress Capital Group decreased its position in United Technologies Corporation (NYSE:UTX) by 0.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,274 shares of the conglomerate’s stock after selling 9 shares during the quarter. Cypress Capital Group’s holdings in United Technologies Corporation were worth $2,611,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kidder Stephen W grew its stake in shares of United Technologies Corporation by 1.7% in the 1st quarter. Kidder Stephen W now owns 50,212 shares of the conglomerate’s stock valued at $5,633,000 after buying an additional 850 shares in the last quarter. Signaturefd LLC grew its stake in shares of United Technologies Corporation by 58.6% in the 1st quarter. Signaturefd LLC now owns 6,269 shares of the conglomerate’s stock valued at $703,000 after buying an additional 2,317 shares in the last quarter. Level Four Advisory Services LLC grew its stake in shares of United Technologies Corporation by 6.6% in the 1st quarter. Level Four Advisory Services LLC now owns 5,348 shares of the conglomerate’s stock valued at $602,000 after buying an additional 332 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of United Technologies Corporation in the 1st quarter valued at approximately $1,801,000. Finally, MEMBERS Trust Co bought a new stake in shares of United Technologies Corporation in the 1st quarter valued at approximately $556,000. 78.85% of the stock is owned by institutional investors and hedge funds.
UTX has been the subject of several recent research reports. 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 note on Tuesday, May 16th. Jefferies Group LLC reissued a “buy” rating on shares of United Technologies Corporation in a research note on Wednesday, May 31st. Royal Bank Of Canada reissued a “hold” rating and issued a $125.00 price target on shares of United Technologies Corporation in a research note on Friday, June 2nd. Finally, HSBC Holdings plc initiated coverage on United Technologies Corporation in a research note on Monday, June 12th. They issued a “hold” rating and a $125.00 price target for the company. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. United Technologies Corporation presently has an average rating of “Hold” and a consensus target price of $124.48.
Shares of United Technologies Corporation (UTX) traded down 0.39% on Friday, hitting $109.55. The stock had a trading volume of 4,404,054 shares. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The company has a market cap of $87.51 billion, a PE ratio of 16.69 and a beta of 1.05. The stock’s 50-day moving average price is $117.28 and its 200 day moving average price is $117.57.
United Technologies Corporation (NYSE:UTX) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the company posted $1.82 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts predict that United Technologies Corporation will post $6.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s payout ratio is currently 42.68%.
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About United Technologies Corporation
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.
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