APG Asset Management N.V. Has $241,480,000 Stake in United Technologies Corp. (UTX)
APG Asset Management N.V. reduced its stake in United Technologies Corp. (NYSE:UTX) by 8.6% during the third quarter, Holdings Channel reports. The fund owned 2,376,767 shares of the company’s stock after selling 223,400 shares during the period. APG Asset Management N.V.’s holdings in United Technologies Corp. were worth $241,480,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Boston Partners increased its stake in United Technologies Corp. by 182.4% in the second quarter. Boston Partners now owns 4,192,600 shares of the company’s stock valued at $429,951,000 after buying an additional 2,707,944 shares in the last quarter. Vanguard Group Inc. increased its stake in United Technologies Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 51,710,590 shares of the company’s stock valued at $5,302,921,000 after buying an additional 2,049,777 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in United Technologies Corp. during the second quarter valued at $178,242,000. Alliancebernstein L.P. increased its stake in United Technologies Corp. by 24.3% in the second quarter. Alliancebernstein L.P. now owns 8,627,389 shares of the company’s stock valued at $884,739,000 after buying an additional 1,688,688 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in United Technologies Corp. during the second quarter valued at $100,023,000. 78.39% of the stock is owned by institutional investors and hedge funds.
United Technologies Corp. (NYSE:UTX) opened at 108.84 on Wednesday. The firm has a 50 day moving average of $103.15 and a 200-day moving average of $103.51. United Technologies Corp. has a 12 month low of $83.39 and a 12 month high of $109.83. The firm has a market cap of $89.62 billion, a P/E ratio of 12.43 and a beta of 1.10.
United Technologies Corp. (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. United Technologies Corp. had a net margin of 12.87% and a return on equity of 18.28%. The company had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $12.28 billion. During the same period in the prior year, the firm posted $1.67 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that United Technologies Corp. will post $6.60 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, November 16th. United Technologies Corp.’s dividend payout ratio is presently 30.28%.
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Several analysts have recently weighed in on UTX shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of United Technologies Corp. in a research note on Monday, November 14th. Credit Suisse Group AG reissued a “hold” rating and set a $109.00 price objective on shares of United Technologies Corp. in a report on Friday, September 30th. Deutsche Bank AG reissued a “hold” rating and set a $107.00 price objective on shares of United Technologies Corp. in a report on Friday, September 23rd. Vetr lowered shares of United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 price objective on the stock. in a report on Monday, November 7th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of United Technologies Corp. in a report on Wednesday, October 26th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $109.80.
In other United Technologies Corp. news, VP Robert J. Bailey sold 967 shares of the stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $106.46, for a total value of $102,946.82. Following the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $212,920. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.
About United Technologies Corp.
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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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