The Balasa Dinverno & Foltz LLC Cuts Position in United Technologies Corporation (UTX)

The Balasa Dinverno & Foltz LLC Cuts Position in United Technologies Corporation (UTX)

A number of other institutional investors also recently modified their holdings of UTX. Riggs Asset Managment Co. Inc. increased its position in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares during the last quarter. Tortoise Investment Management LLC increased its position in shares of United Technologies Corporation by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock worth $113,000 after buying an additional 27 shares during the last quarter. Alexandria Capital LLC increased its position in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of United Technologies Corporation during the fourth quarter worth approximately $118,000. Finally, Advantage Investment Management LLC bought a new position in shares of United Technologies Corporation during the fourth quarter worth approximately $168,000. Institutional investors own 78.45% of the company’s stock.

Balasa Dinverno & Foltz LLC cut its position in shares of United Technologies Corporation (NYSE:UTX) by 10.8% during the first quarter, Holdings Channel reports. The fund owned 2,499 shares of the conglomerate’s stock after selling 302 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in United Technologies Corporation were worth $280,000 as of its most recent filing with the SEC.

Shares of United Technologies Corporation (UTX) opened at 118.88 on Wednesday. The firm has a 50-day moving average price of $121.70 and a 200-day moving average price of $116.57. The firm has a market capitalization of $94.96 billion, a P/E ratio of 18.11 and a beta of 1.06. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. United Technologies Corporation’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio is 40.24%.

A number of equities analysts have commented on the company. Cowen and Company restated a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Credit Suisse Group restated a “buy” rating and issued a $136.00 target price on shares of United Technologies Corporation in a research note on Wednesday, July 26th. BidaskClub downgraded United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Sanford C. Bernstein restated a “market perform” rating and issued a $135.00 target price (up from $130.00) on shares of United Technologies Corporation in a research note on Friday, July 21st. Finally, Zacks Investment Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $123.54.

United Technologies Corporation 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. Otis operates as an elevator and escalator manufacturing, installation and service company.

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