Kentucky Retirement Systems purchased a new position in shares of United Technologies Corp. (NYSE:UTX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 66,184 shares of the company’s stock, valued at approximately $6,787,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlueMountain Capital Management LLC acquired a new position in shares of United Technologies Corp. during the first quarter worth about $694,000. Kovitz Investment Group Partners LLC acquired a new position in shares of United Technologies Corp. during the first quarter worth about $1,423,000. Cullinan Associates Inc. increased its position in shares of United Technologies Corp. by 4.9% in the first quarter. Cullinan Associates Inc. now owns 55,286 shares of the company’s stock worth $5,534,000 after buying an additional 2,600 shares during the last quarter. First Republic Investment Management Inc. increased its position in shares of United Technologies Corp. by 3.9% in the first quarter. First Republic Investment Management Inc. now owns 847,216 shares of the company’s stock worth $84,807,000 after buying an additional 31,967 shares during the last quarter. Finally, Euclid Advisors LLC increased its position in shares of United Technologies Corp. by 101.4% in the first quarter. Euclid Advisors LLC now owns 79,358 shares of the company’s stock worth $7,944,000 after buying an additional 39,949 shares during the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for United Technologies Corp. (NYSE:UTX)

Shares of United Technologies Corp. (NYSE:UTX) traded down 0.19% during trading on Friday, reaching $106.50. The company had a trading volume of 2,677,456 shares. The company has a market capitalization of $87.69 billion, a PE ratio of 12.17 and a beta of 1.10. United Technologies Corp. has a 52 week low of $83.39 and a 52 week high of $109.83. The stock’s 50-day moving average price is $101.57 and its 200-day moving average price is $103.14.

United Technologies Corp. (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 25th. The company reported $1.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. The business earned $14.40 billion during the quarter, compared to analyst estimates of $12.28 billion. United Technologies Corp. had a return on equity of 18.28% and a net margin of 12.87%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. On average, equities analysts expect that United Technologies Corp. will post $6.60 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors 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 dividend yield of 2.48%. United Technologies Corp.’s dividend payout ratio is presently 30.28%.

A number of analysts recently commented on UTX shares. Wells Fargo & Co. reiterated a “buy” rating on shares of United Technologies Corp. in a research report on Monday, November 14th. Barclays PLC upped their price objective on United Technologies Corp. from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating and set a $118.00 price objective on shares of United Technologies Corp. in a research report on Wednesday, July 27th. Bank of America Corp. reiterated a “buy” rating and set a $130.00 price objective (up previously from $115.00) on shares of United Technologies Corp. in a research report on Wednesday, July 27th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of United Technologies Corp. in a research report on Sunday, July 31st. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $109.80.

In related news, VP Robert J. Bailey sold 967 shares of United Technologies Corp. stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $106.46, for a total value of $102,946.82. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $212,920. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is owned by corporate 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.

5 Day Chart for NYSE:UTX

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