Donaldson Capital Management LLC Lowers Stake in United Technologies Co. (NYSE:UTX)
Donaldson Capital Management LLC cut its position in shares of United Technologies Co. (NYSE:UTX) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,153 shares of the conglomerate’s stock after selling 1,562 shares during the quarter. Donaldson Capital Management LLC’s holdings in United Technologies were worth $3,936,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in UTX. Credit Agricole S A raised its holdings in United Technologies by 101.4% in the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after acquiring an additional 436 shares in the last quarter. Jolley Asset Management LLC bought a new stake in United Technologies during the second quarter valued at $114,000. Fort L.P. bought a new stake in United Technologies during the second quarter valued at $120,000. WP Advisors LLC bought a new stake in United Technologies during the second quarter valued at $126,000. Finally, Kiley Juergens Wealth Management LLC bought a new stake in United Technologies during the second quarter valued at $127,000. Hedge funds and other institutional investors own 82.10% of the company’s stock.
Several analysts have weighed in on the stock. UBS Group started coverage on shares of United Technologies in a research note on Wednesday, August 15th. They set a “buy” rating for the company. Robert W. Baird reduced their price objective on shares of United Technologies from $167.00 to $149.00 and set an “outperform” rating for the company in a report on Wednesday, November 28th. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a report on Thursday, October 4th. Bank of America set a $180.00 price target on shares of United Technologies and gave the company a “buy” rating in a report on Tuesday, November 27th. 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. United Technologies presently has an average rating of “Buy” and a consensus price target of $151.58.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.10 billion. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. Equities research analysts expect that United Technologies Co. will post 7.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be issued a $0.735 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.46%. This is an increase from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio is currently 44.21%.
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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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