Greystone Investment Management LLC Invests $201,000 in United Technologies Corporation (UTX) Stock
Greystone Investment Management LLC bought a new stake in United Technologies Corporation (NYSE:UTX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,650 shares of the conglomerate’s stock, valued at approximately $201,000.
A number of other hedge funds also recently bought and sold shares of UTX. Riggs Asset Managment Co. Inc. raised its holdings in United Technologies Corporation by 14.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 125 shares during the last quarter. Winfield Associates Inc. raised its holdings in United Technologies Corporation by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after acquiring an additional 29 shares during the last quarter. Alexandria Capital LLC raised its holdings in United Technologies Corporation by 0.3% in the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares during the last quarter. Paragon Capital Management Ltd acquired a new position in United Technologies Corporation in the 1st quarter valued at $139,000. Finally, Exane Derivatives acquired a new position in United Technologies Corporation in the 2nd quarter valued at $141,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.
United Technologies Corporation (NYSE:UTX) opened at 118.82 on Friday. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The stock’s 50 day moving average is $115.11 and its 200 day moving average is $118.06. The company has a market cap of $94.91 billion, a PE ratio of 18.10 and a beta of 1.05.
United Technologies Corporation (NYSE:UTX) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the 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 for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the business earned $1.82 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Equities analysts predict that United Technologies Corporation will post $6.57 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.36%. United Technologies Corporation’s dividend payout ratio (DPR) is currently 42.68%.
Several brokerages have weighed in on UTX. Royal Bank Of Canada reiterated a “hold” rating and issued a $126.00 price target on shares of United Technologies Corporation in a report on Tuesday. Deutsche Bank AG dropped their price objective on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday, September 6th. Bank of America Corporation restated a “buy” rating and set a $140.00 price objective on shares of United Technologies Corporation in a report on Wednesday, September 6th. Cowen and Company downgraded United Technologies Corporation from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $127.00 to $120.00 in a report on Wednesday, September 6th. Finally, Vertical Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday, September 5th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. United Technologies Corporation currently has an average rating of “Hold” and a consensus target price of $125.27.
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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