Fisher Asset Management LLC Has $845,009,000 Position in United Technologies Corp. (UTX)
Fisher Asset Management LLC cut its stake in United Technologies Corp. (NYSE:UTX) by 0.5% during the third quarter, Holdings Channel reports. The institutional investor owned 8,317,013 shares of the company’s stock after selling 45,007 shares during the period. United Technologies Corp. makes up 1.5% of Fisher Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Fisher Asset Management LLC’s holdings in United Technologies Corp. were worth $845,009,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new position in shares of United Technologies Corp. during the second quarter valued at $103,000. Coconut Grove Bank boosted its position in shares of United Technologies Corp. by 5.8% in the second quarter. Coconut Grove Bank now owns 1,037 shares of the company’s stock valued at $106,000 after buying an additional 57 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of United Technologies Corp. by 6.1% in the second quarter. Tortoise Investment Management LLC now owns 1,065 shares of the company’s stock valued at $109,000 after buying an additional 61 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its position in shares of United Technologies Corp. by 181.1% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,071 shares of the company’s stock valued at $110,000 after buying an additional 690 shares in the last quarter. Finally, Orrstown Financial Services Inc. boosted its position in shares of United Technologies Corp. by 35.6% in the second quarter. Orrstown Financial Services Inc. now owns 1,085 shares of the company’s stock valued at $111,000 after buying an additional 285 shares in the last quarter. 78.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of United Technologies Corp. (NYSE:UTX) opened at 107.72 on Thursday. The firm has a market cap of $88.70 billion, a price-to-earnings ratio of 12.31 and a beta of 1.10. United Technologies Corp. has a 52 week low of $83.39 and a 52 week high of $110.00. The company has a 50-day moving average price of $103.15 and a 200 day moving average price of $103.51.
United Technologies Corp. (NYSE:UTX) last released its earnings results on Tuesday, October 25th. The company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.09. United Technologies Corp. had a return on equity of 18.28% and a net margin of 12.87%. The business had revenue of $14.40 billion for the quarter, compared to analyst estimates of $12.28 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. United Technologies Corp.’s revenue was up 4.1% on a year-over-year basis. Analysts expect that United Technologies Corp. will post $6.60 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.64 annualized dividend and a yield of 2.45%. United Technologies Corp.’s dividend payout ratio is 30.28%.
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A number of research firms recently weighed in on UTX. Wells Fargo & Co. reiterated a “buy” rating on shares of United Technologies Corp. in a research report on Monday, November 14th. Vetr downgraded United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 price objective for the company. in a research note on Monday, November 7th. Stifel Nicolaus reissued a “hold” rating on shares of United Technologies Corp. in a research note on Wednesday, October 26th. Zacks Investment Research raised United Technologies Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 26th. Finally, Citigroup Inc. downgraded United Technologies Corp. from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $99.20 to $100.58 in a research note on Monday, October 10th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $109.80.
In other United Technologies Corp. news, VP Robert J. Bailey sold 967 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $106.46, for a total value of $102,946.82. Following the sale, the vice president now owns 2,000 shares in the company, valued at $212,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by company insiders.
United Technologies Corp. Company 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. 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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