HM Payson & Co. Has $47.98 Million Stake in United Technologies Co. (NYSE:UTX)
HM Payson & Co. increased its holdings in United Technologies Co. (NYSE:UTX) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,393 shares of the conglomerate’s stock after buying an additional 1,497 shares during the period. United Technologies accounts for 1.5% of HM Payson & Co.’s holdings, making the stock its 16th largest position. HM Payson & Co.’s holdings in United Technologies were worth $47,982,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PSI Advisors LLC acquired a new position in shares of United Technologies during the fourth quarter valued at about $29,000. Accurate Investment Solutions Inc. bought a new position in United Technologies in the 4th quarter worth approximately $30,000. Mizuho Securities Co. Ltd. purchased a new stake in United Technologies in the 4th quarter worth approximately $30,000. Capital Wealth Alliance LLC purchased a new stake in United Technologies in the 4th quarter worth approximately $30,000. Finally, Savior LLC purchased a new stake in United Technologies in the 4th quarter worth approximately $32,000. Institutional investors own 81.71% of the company’s stock.
Several analysts have recently weighed in on UTX shares. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, November 28th. ValuEngine upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. UBS Group lifted their target price on shares of United Technologies from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Benchmark initiated coverage on shares of United Technologies in a research report on Friday, January 31st. They issued a “buy” rating and a $186.00 target price on the stock. Finally, Credit Suisse Group decreased their target price on shares of United Technologies from $177.00 to $172.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $162.80.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.10. The business had revenue of $19.55 billion during the quarter, compared to analysts’ expectations of $19.34 billion. United Technologies had a net margin of 7.19% and a return on equity of 16.60%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.95 earnings per share. Sell-side analysts forecast that United Technologies Co. will post 7.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 14th were given a $0.735 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.82%. United Technologies’s payout ratio is currently 35.59%.
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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