ING Groep NV increased its stake in United Technologies Corporation (NYSE:UTX) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 236,321 shares of the conglomerate’s stock after purchasing an additional 9,494 shares during the period. ING Groep NV’s holdings in United Technologies Corporation were worth $28,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in UTX. Riggs Asset Managment Co. Inc. increased its position in United Technologies Corporation by 14.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 125 shares during the period. Alexandria Capital LLC increased its position in United Technologies Corporation by 0.4% in the 1st quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after acquiring an additional 4 shares during the period. Exane Derivatives acquired a new stake in United Technologies Corporation in the 2nd quarter valued at approximately $141,000. Proficio Capital Partners LLC increased its position in United Technologies Corporation by 42.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,298 shares of the conglomerate’s stock valued at $158,000 after acquiring an additional 386 shares during the period. Finally, Thompson Davis & CO. Inc. increased its position in United Technologies Corporation by 22.9% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock valued at $150,000 after acquiring an additional 249 shares during the period. 78.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of United Technologies Corporation (NYSE UTX) traded up 0.79% during trading on Monday, hitting $110.42. The company had a trading volume of 1,942,097 shares. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The firm has a 50 day moving average of $117.10 and a 200 day moving average of $117.64. The stock has a market cap of $88.20 billion, a PE ratio of 16.82 and a beta of 1.05.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the Zacks’ 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 company 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 business posted $1.82 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 10th. Stockholders of record on Friday, August 18th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio is currently 42.68%.

Several research firms recently commented on UTX. Zacks Investment Research upgraded United Technologies Corporation from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a research report on Monday, June 5th. 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 report on Friday, July 21st. Royal Bank Of Canada restated a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a research report on Friday, June 2nd. BidaskClub upgraded United Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Vertical Research cut United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, September 5th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. United Technologies Corporation has a consensus rating of “Hold” and an average price target of $124.48.

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United Technologies Corporation 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.

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

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