Voya Investment Management LLC Has $46.39 Million Stake in United Technologies Corporation (UTX)
Voya Investment Management LLC cut its holdings in shares of United Technologies Corporation (NYSE:UTX) by 1.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 379,904 shares of the conglomerate’s stock after selling 6,487 shares during the period. Voya Investment Management LLC’s holdings in United Technologies were worth $46,390,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Tortoise Investment Management LLC boosted its holdings in United Technologies by 5.3% in the 2nd 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 stake in United Technologies in the 2nd quarter worth about $120,000. Winfield Associates Inc. boosted its holdings in United Technologies by 2.9% in the 2nd 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 stake in United Technologies in the 2nd quarter worth about $131,000. Finally, Alexandria Capital LLC boosted its holdings in United Technologies by 0.3% in the 2nd 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 80.20% of the company’s stock.
UTX has been the topic of several research analyst reports. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Cowen reiterated a “buy” rating and issued a $127.00 price objective on shares of United Technologies in a report on Tuesday, September 5th. Credit Suisse Group reiterated a “neutral” rating on shares of United Technologies in a report on Friday, September 1st. Jefferies Group reiterated a “buy” rating and issued a $139.00 price objective on shares of United Technologies in a report on Tuesday, August 29th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 price objective on shares of United Technologies in a report on Sunday, August 13th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $125.15.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 EPS. research analysts forecast that United Technologies Corporation will post 6.61 earnings per share for the current fiscal year.
The business 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies’s dividend payout ratio is currently 43.41%.
In other news, EVP Michael R. Dumais sold 2,986 shares of United Technologies stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction that occurred on 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. Over the last 90 days, insiders have sold 9,792 shares of company stock worth $1,182,520. Insiders own 0.16% of the company’s stock.
United Technologies 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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