Stillwater Capital Advisors LLC Sells 335 Shares of United Technologies Corp. (UTX)
Stillwater Capital Advisors LLC reduced its stake in shares of United Technologies Corp. (NYSE:UTX) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,785 shares of the company’s stock after selling 335 shares during the period. United Technologies Corp. makes up about 3.0% of Stillwater Capital Advisors LLC’s portfolio, making the stock its 16th largest position. Stillwater Capital Advisors LLC’s holdings in United Technologies Corp. were worth $10,240,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in UTX. Boston Partners increased its stake in shares of 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 shares of 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 shares of United Technologies Corp. during the second quarter valued at $178,242,000. Alliancebernstein L.P. increased its stake in shares of 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 shares of United Technologies Corp. during the second quarter valued at $100,023,000. 78.39% of the stock is currently owned by hedge funds and other institutional investors.
United Technologies Corp. (NYSE:UTX) traded down 0.32% during mid-day trading on Wednesday, hitting $108.49. 1,916,354 shares of the stock traded hands. United Technologies Corp. has a 12 month low of $83.39 and a 12 month high of $110.00. The stock’s 50 day moving average is $103.15 and its 200-day moving average is $103.51. The company has a market cap of $89.33 billion, a price-to-earnings ratio of 12.39 and a beta of 1.10.
United Technologies Corp. (NYSE:UTX) last issued its earnings results on Tuesday, October 25th. The company reported $1.76 earnings per share for the quarter, topping the 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 analyst estimates of $12.28 billion. During the same period in the prior year, the business posted $1.67 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that United Technologies Corp. will post $6.60 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be given a dividend of $0.66 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.64 annualized dividend and a yield of 2.43%. United Technologies Corp.’s payout ratio is currently 30.28%.
UTX has been the topic of several analyst reports. Citigroup Inc. downgraded United Technologies Corp. from a “buy” rating to a “neutral” rating and increased their price target for the stock from $99.20 to $100.58 in a research report on Monday, October 10th. Robert W. Baird initiated coverage on United Technologies Corp. in a research report on Wednesday, October 5th. They set a “neutral” rating and a $110.00 price target on the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of United Technologies Corp. in a research report on Wednesday, October 26th. Vetr cut United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 target price on the stock. in a research report on Tuesday, November 1st. Finally, Zacks Investment Research cut United Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $109.80.
In other United Technologies Corp. news, VP Robert J. Bailey sold 967 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $106.46, for a total transaction of $102,946.82. Following the transaction, the vice president now directly owns 2,000 shares in the company, valued at $212,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.15% of the company’s stock.
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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