Oakbrook Investments LLC reduced its stake in United Technologies Corporation (NYSE:UTX) by 43.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,113 shares of the conglomerate’s stock after selling 28,200 shares during the period. Oakbrook Investments LLC’s holdings in United Technologies Corporation were worth $4,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its position in shares of United Technologies Corporation by 17.7% in the second quarter. CWM LLC now owns 1,397 shares of the conglomerate’s stock valued at $171,000 after buying an additional 210 shares during the period. Mutual of Omaha Bank Wealth Management purchased a new position in shares of United Technologies Corporation during the first quarter valued at approximately $202,000. American National Bank boosted its position in shares of United Technologies Corporation by 154.5% in the first quarter. American National Bank now owns 1,845 shares of the conglomerate’s stock valued at $207,000 after buying an additional 1,120 shares during the period. TNB Financial purchased a new position in shares of United Technologies Corporation during the first quarter valued at approximately $957,000. Finally, TRUE Private Wealth Advisors boosted its position in shares of United Technologies Corporation by 34.5% in the first quarter. TRUE Private Wealth Advisors now owns 3,356 shares of the conglomerate’s stock valued at $379,000 after buying an additional 861 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Shares of United Technologies Corporation (NYSE:UTX) traded down 0.92% during mid-day trading on Tuesday, hitting $116.07. The stock had a trading volume of 771,477 shares. The stock’s 50-day moving average price is $121.04 and its 200 day moving average price is $117.04. The company has a market capitalization of $92.71 billion, a P/E ratio of 17.68 and a beta of 1.06. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the company earned $1.82 EPS. United Technologies Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio is currently 40.24%.

ILLEGAL ACTIVITY NOTICE: “Oakbrook Investments LLC Decreases Stake in United Technologies Corporation (UTX)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/15/oakbrook-investments-llc-decreases-stake-in-united-technologies-corporation-utx.html.

Several research analysts recently commented on UTX shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $136.00 target price on shares of United Technologies Corporation in a research report on Wednesday, July 26th. BidaskClub raised United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $138.00 target price (up from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research report on Tuesday, May 30th. Finally, Royal Bank Of Canada reiterated a “neutral” rating on shares of United Technologies Corporation in a research note on Thursday, April 27th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price 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.

Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Corporation (NYSE:UTX).

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

Receive News & Stock Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related stocks with our FREE daily email newsletter.