Gratus Capital LLC Has $7.25 Million Stake in United Technologies Corporation (UTX)
Gratus Capital LLC grew its position in United Technologies Corporation (NYSE:UTX) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,352 shares of the conglomerate’s stock after purchasing an additional 370 shares during the quarter. United Technologies Corporation makes up about 1.0% of Gratus Capital LLC’s portfolio, making the stock its 24th largest position. Gratus Capital LLC’s holdings in United Technologies Corporation were worth $7,247,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in shares of United Technologies Corporation by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 3,729,056 shares of the conglomerate’s stock valued at $455,358,000 after purchasing an additional 46,813 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in United Technologies Corporation by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 3,544,737 shares of the conglomerate’s stock worth $397,774,000 after acquiring an additional 125,003 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in United Technologies Corporation by 0.6% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,517,626 shares of the conglomerate’s stock worth $429,537,000 after acquiring an additional 19,439 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in United Technologies Corporation by 11.8% during the first quarter. UBS Asset Management Americas Inc. now owns 2,858,758 shares of the conglomerate’s stock worth $320,781,000 after acquiring an additional 301,484 shares in the last quarter. Finally, Swiss National Bank boosted its stake in United Technologies Corporation by 25.2% during the first quarter. Swiss National Bank now owns 2,771,721 shares of the conglomerate’s stock worth $311,015,000 after acquiring an additional 557,300 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.
Shares of United Technologies Corporation (UTX) opened at $116.53 on Friday. The company has a market cap of $94,140.00, a PE ratio of 17.95, a PEG ratio of 2.14 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 1-year low of $106.21 and a 1-year high of $124.79.
United Technologies Corporation (NYSE:UTX) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.76 earnings per share. sell-side analysts expect that United Technologies Corporation will post 6.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.40%. United Technologies Corporation’s dividend payout ratio is currently 43.34%.
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In other news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares in the company, valued at $3,332,757.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.
Several brokerages recently issued reports on UTX. Vertical Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, September 5th. Deutsche Bank AG cut their target price on shares of United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 6th. Credit Suisse Group reissued a “buy” rating and set a $136.00 target price on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Cowen and Company reissued a “hold” rating and set a $120.00 target price on shares of United Technologies Corporation in a research note on Friday, November 10th. Finally, Bank of America Corporation reissued a “buy” rating and set a $140.00 target price on shares of United Technologies Corporation in a research note on Wednesday, September 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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