United Technologies Corporation (NYSE:UTX) announced a quarterly dividend on Wednesday, October 11th, RTT News reports. Investors of record on Friday, November 17th will be paid a dividend of 0.70 per share by the conglomerate on Sunday, December 10th. This represents a $2.80 annualized dividend and a dividend yield of 2.37%.

United Technologies Corporation has raised its dividend by an average of 6.1% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. United Technologies Corporation has a dividend payout ratio of 42.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Technologies Corporation to earn $6.87 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 40.8%.

Shares of United Technologies Corporation (NYSE:UTX) traded down 0.39% during mid-day trading on Wednesday, hitting $117.66. The company had a trading volume of 628,366 shares. The firm’s 50-day moving average price is $115.00 and its 200 day moving average price is $118.06. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79. The company has a market capitalization of $93.98 billion, a P/E ratio of 18.24 and a beta of 1.05.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the consensus estimate of $1.78 by $0.07. The business had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 EPS. Analysts predict that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.

UTX has been the topic of several research reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of United Technologies Corporation in a research report on Thursday, July 27th. Credit Suisse Group reaffirmed a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a research report on Wednesday, July 26th. Cowen and Company reaffirmed a “buy” rating and issued a $127.00 price objective on shares of United Technologies Corporation in a research report on Tuesday, July 25th. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Finally, UBS AG boosted their price objective on shares of United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $125.27.

Several hedge funds have recently modified their holdings of the company. Keel Point LLC raised its holdings in shares of United Technologies Corporation by 2.0% in the 2nd quarter. Keel Point LLC now owns 8,125 shares of the conglomerate’s stock valued at $992,000 after purchasing an additional 160 shares during the period. Verition Fund Management LLC raised its holdings in shares of United Technologies Corporation by 310.3% in the 2nd quarter. Verition Fund Management LLC now owns 30,773 shares of the conglomerate’s stock valued at $3,758,000 after purchasing an additional 23,273 shares during the period. National Asset Management Inc. raised its holdings in shares of United Technologies Corporation by 3.3% in the 2nd quarter. National Asset Management Inc. now owns 15,321 shares of the conglomerate’s stock valued at $1,874,000 after purchasing an additional 492 shares during the period. Seminole Management Co. Inc. raised its holdings in shares of United Technologies Corporation by 25.5% in the 2nd quarter. Seminole Management Co. Inc. now owns 49,195 shares of the conglomerate’s stock valued at $6,007,000 after purchasing an additional 10,000 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of United Technologies Corporation by 1.9% in the 2nd quarter. Sterling Capital Management LLC now owns 85,071 shares of the conglomerate’s stock valued at $10,388,000 after purchasing an additional 1,587 shares during the period. 78.78% of the stock is currently owned by institutional investors.

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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.

Dividend History for United Technologies Corporation (NYSE:UTX)

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