NBT Bank N A NY trimmed its position in shares of United Technologies Corporation (NYSE:UTX) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,274 shares of the conglomerate’s stock after selling 2,296 shares during the period. United Technologies Corporation comprises 1.6% of NBT Bank N A NY’s investment portfolio, making the stock its 14th largest position. NBT Bank N A NY’s holdings in United Technologies Corporation were worth $10,046,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Advisory LLP increased its stake in United Technologies Corporation by 5.2% in the 2nd quarter. Cornerstone Advisory LLP now owns 3,220 shares of the conglomerate’s stock worth $393,000 after purchasing an additional 159 shares during the period. Gratus Capital LLC increased its stake in United Technologies Corporation by 0.6% in the 2nd quarter. Gratus Capital LLC now owns 59,352 shares of the conglomerate’s stock worth $7,247,000 after purchasing an additional 370 shares during the period. Principal Financial Group Inc. increased its stake in United Technologies Corporation by 2.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,082,462 shares of the conglomerate’s stock worth $132,179,000 after purchasing an additional 20,821 shares during the period. Sullivan Bruyette Speros & Blaney LLC increased its stake in United Technologies Corporation by 4.8% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,933 shares of the conglomerate’s stock worth $480,000 after purchasing an additional 179 shares during the period. Finally, Homrich & Berg increased its stake in United Technologies Corporation by 0.5% in the 2nd quarter. Homrich & Berg now owns 4,455 shares of the conglomerate’s stock worth $544,000 after purchasing an additional 20 shares during the period. 78.33% of the stock is currently owned by institutional investors.
Shares of United Technologies Corporation (NYSE:UTX) opened at $116.53 on Monday. The company has a market capitalization of $93,057.35, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.10 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.91 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 posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The company had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. United Technologies Corporation’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 earnings per share. equities analysts forecast that United Technologies Corporation will post 6.61 EPS for the current year.
The company also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is presently 43.41%.
A number of brokerages have recently weighed in on UTX. Zacks Investment Research lowered United Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Cowen and Company lowered United Technologies Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $127.00 to $120.00 in a research report on Wednesday, September 6th. Bank of America Corporation reiterated a “buy” rating and issued a $140.00 price objective on shares of United Technologies Corporation in a research report on Wednesday, September 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $139.00 price objective on shares of United Technologies Corporation in a research report on Tuesday, August 29th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a research report on Wednesday, July 26th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. United Technologies Corporation has a consensus rating of “Hold” and an average price target of $125.15.
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In other United Technologies Corporation news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.
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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