Systematic Financial Management LP Has $733,000 Holdings in United Technologies Corporation (UTX)
Systematic Financial Management LP held its position in shares of United Technologies Corporation (NYSE:UTX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,000 shares of the conglomerate’s stock at the close of the second quarter. Systematic Financial Management LP’s holdings in United Technologies were worth $733,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its holdings in United Technologies by 5.3% during the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares during the last quarter. Seven Bridges Advisors LLC acquired a new position in United Technologies during the second quarter worth $120,000. Winfield Associates Inc. raised its holdings in United Technologies by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after buying an additional 29 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in United Technologies during the second quarter worth $131,000. Finally, Alexandria Capital LLC raised its holdings in United Technologies by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after buying an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 80.19% of the company’s stock.
Several research analysts have weighed in on UTX shares. Bank of America restated a “buy” rating and set a $140.00 price objective on shares of United Technologies in a report on Wednesday, September 6th. Deutsche Bank reduced their target price on shares of United Technologies from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Wednesday, September 6th. Vertical Research lowered shares of United Technologies from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research note on Tuesday, September 5th. Cowen lowered shares of United Technologies from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $127.00 to $120.00 in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus upped their target price on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $125.15.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share 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 analyst estimates of $14.99 billion. United Technologies 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 business earned $1.76 earnings per share. equities analysts predict that United Technologies Corporation will post 6.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.33%. United Technologies’s payout ratio is currently 43.34%.
In related 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 transaction of $361,246.28. Following the completion of the transaction, the executive vice president now owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Robert J. Bailey sold 827 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.
About United Technologies
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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