Bernicke Wealth Management Ltd. lifted its stake in United Technologies Co. (NYSE:UTX) by 8.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,071 shares of the conglomerate’s stock after acquiring an additional 492 shares during the quarter. United Technologies makes up 0.6% of Bernicke Wealth Management Ltd.’s portfolio, making the stock its 24th biggest holding. Bernicke Wealth Management Ltd.’s holdings in United Technologies were worth $849,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of UTX. Charles Schwab Investment Advisory Inc. acquired a new position in United Technologies during the second quarter worth $341,297,000. Boston Partners grew its position in shares of United Technologies by 25.0% in the second quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock valued at $844,240,000 after purchasing an additional 1,349,539 shares during the last quarter. Epoch Investment Partners Inc. grew its position in shares of United Technologies by 597.6% in the second quarter. Epoch Investment Partners Inc. now owns 1,289,716 shares of the conglomerate’s stock valued at $161,253,000 after purchasing an additional 1,104,849 shares during the last quarter. Mainstay Capital Management LLC ADV grew its position in shares of United Technologies by 5,810.8% in the second quarter. Mainstay Capital Management LLC ADV now owns 993,368 shares of the conglomerate’s stock valued at $8,864,000 after purchasing an additional 976,562 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of United Technologies by 2.7% in the second quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock valued at $3,308,428,000 after buying an additional 707,417 shares during the period. 82.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE UTX opened at $121.45 on Friday. The firm has a market cap of $96.81 billion, a PE ratio of 18.26, a PEG ratio of 1.84 and a beta of 1.07. United Technologies Co. has a twelve month low of $115.40 and a twelve month high of $144.15. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 EPS. As a group, equities analysts anticipate that United Technologies Co. will post 7.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a $0.735 dividend. This is a boost from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, November 15th. United Technologies’s payout ratio is currently 44.21%.
Several research firms recently weighed in on UTX. Cowen reiterated a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research note on Thursday. Robert W. Baird cut their price target on shares of United Technologies from $167.00 to $149.00 and set an “outperform” rating for the company in a research note on Wednesday, November 28th. Bank of America set a $180.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a report on Tuesday, November 27th. UBS Group raised shares of United Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Finally, Jefferies Financial Group set a $148.00 price target on shares of United Technologies and gave the company a “buy” rating in a report on Tuesday, November 27th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $151.58.
United Technologies Company 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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