Brighton Jones LLC Takes Position in United Technologies Corporation (UTX)
Brighton Jones LLC acquired a new stake in United Technologies Corporation (NYSE:UTX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,131 shares of the conglomerate’s stock, valued at approximately $871,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in United Technologies Corporation by 9.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 86,127 shares of the conglomerate’s stock valued at $10,517,000 after acquiring an additional 7,766 shares during the last quarter. NTV Asset Management LLC lifted its holdings in United Technologies Corporation by 1.0% in the second quarter. NTV Asset Management LLC now owns 29,049 shares of the conglomerate’s stock valued at $3,547,000 after acquiring an additional 289 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in United Technologies Corporation by 0.9% in the second quarter. McKinley Carter Wealth Services Inc. now owns 24,542 shares of the conglomerate’s stock valued at $2,997,000 after acquiring an additional 210 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in United Technologies Corporation by 0.4% in the second quarter. Hudock Capital Group LLC now owns 3,705 shares of the conglomerate’s stock valued at $452,000 after acquiring an additional 15 shares during the last quarter. Finally, Schulhoff & Co. Inc. acquired a new position in United Technologies Corporation in the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.
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Shares of United Technologies Corporation (NYSE UTX) opened at $117.57 on Thursday. United Technologies Corporation has a 12-month low of $106.21 and a 12-month high of $124.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The firm has a market capitalization of $93,488.59, a price-to-earnings ratio of 17.68, a PEG ratio of 2.11 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The business had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same quarter in the prior year, the company earned $1.76 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. research analysts forecast that United Technologies Corporation will post 6.61 EPS for the current fiscal 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. This represents a $2.80 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is presently 43.41%.
In related news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.
A number of research firms recently commented on UTX. BidaskClub cut United Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Cowen and Company reiterated a “hold” rating and issued a $120.00 price objective on shares of United Technologies Corporation in a report on Friday, November 10th. Royal Bank Of Canada restated a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a research note on Sunday, August 13th. Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $135.00 price target (up from $130.00) on shares of United Technologies Corporation in a research note on Friday, July 21st. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. United Technologies Corporation has a consensus rating of “Hold” and an average target price of $125.15.
United Technologies Corporation 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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