983 Shares in United Technologies Corporation (UTX) Acquired by Seven Bridges Advisors LLC
Seven Bridges Advisors LLC bought a new position in shares of United Technologies Corporation (NYSE:UTX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 983 shares of the conglomerate’s stock, valued at approximately $120,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its holdings in United Technologies Corporation by 14.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 125 shares in the last quarter. Winfield Associates Inc. raised its holdings in United Technologies Corporation by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares in the last quarter. Alexandria Capital LLC raised its holdings in United Technologies Corporation by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after purchasing an additional 3 shares in the last quarter. Exane Derivatives purchased a new position in United Technologies Corporation during the second quarter worth about $141,000. Finally, Thompson Davis & CO. Inc. raised its holdings in United Technologies Corporation by 22.9% during the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.
United Technologies Corporation (NYSE UTX) opened at 119.18 on Thursday. The stock’s 50 day moving average is $115.45 and its 200-day moving average is $118.30. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The stock has a market capitalization of $95.20 billion, a PE ratio of 18.15 and a beta of 1.05.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $15.24 billion. During the same period in the previous year, the firm earned $1.82 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast 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, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.35%. United Technologies Corporation’s payout ratio is currently 42.68%.
Several research firms recently issued reports on UTX. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Sanford C. Bernstein reissued a “market perform” rating and set a $135.00 price target (up from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Vertical Research cut shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a report on Tuesday, September 5th. Deutsche Bank AG cut their price target on shares of United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday, September 6th. Finally, Credit Suisse Group reissued a “buy” rating and set a $136.00 price target on shares of United Technologies Corporation in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. United Technologies Corporation currently has a consensus rating of “Hold” and an average target price of $125.27.
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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.
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