Usca Ria LLC Increases Stake in United Technologies Co. (UTX)
Usca Ria LLC grew its stake in shares of United Technologies Co. (NYSE:UTX) by 22.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,241 shares of the conglomerate’s stock after buying an additional 4,197 shares during the quarter. Usca Ria LLC’s holdings in United Technologies were worth $3,249,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in UTX. Credit Agricole S A raised its holdings in shares of United Technologies by 101.4% during the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after purchasing an additional 436 shares during the period. Jolley Asset Management LLC acquired a new position in shares of United Technologies during the second quarter valued at about $114,000. Fort L.P. acquired a new position in shares of United Technologies during the second quarter valued at about $120,000. WP Advisors LLC acquired a new position in shares of United Technologies during the second quarter valued at about $126,000. Finally, Kiley Juergens Wealth Management LLC acquired a new position in shares of United Technologies during the second quarter valued at about $127,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.
NYSE:UTX opened at $130.71 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. The stock has a market cap of $104.57 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. United Technologies Co. has a one year low of $115.40 and a one year high of $144.15.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.25%. This is an increase from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s dividend payout ratio is presently 42.11%.
UTX has been the topic of several research reports. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. UBS Group initiated coverage on shares of United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating for the company. Finally, Robert W. Baird boosted their target price on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $151.90.
United Technologies Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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