Metropolitan Life Insurance Co. NY reduced its holdings in shares of United Technologies Corporation (NYSE:UTX) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,892 shares of the conglomerate’s stock after selling 13,583 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in United Technologies Corporation were worth $41,954,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. grew its stake in United Technologies Corporation by 14.3% during 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 period. Alexandria Capital LLC grew its stake in United Technologies Corporation by 0.4% during 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 period. Thompson Davis & CO. Inc. grew its stake in United Technologies Corporation by 22.9% during the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after buying an additional 249 shares during the period. MCF Advisors LLC grew its stake in United Technologies Corporation by 22.4% during the first quarter. MCF Advisors LLC now owns 1,550 shares of the conglomerate’s stock worth $174,000 after buying an additional 284 shares during the period. Finally, Advantage Investment Management LLC grew its stake in United Technologies Corporation by 12.8% during the first quarter. Advantage Investment Management LLC now owns 1,731 shares of the conglomerate’s stock worth $194,000 after buying an additional 196 shares during the period. Institutional investors own 78.85% of the company’s stock.

UTX has been the topic of a number of recent research reports. Zacks Investment Research raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research report on Tuesday, May 16th. UBS AG boosted their target price on shares of United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Jefferies Group LLC reissued a “buy” rating on shares of United Technologies Corporation in a research report on Thursday, July 27th. Cowen and Company reissued a “buy” rating and set a $127.00 target price on shares of United Technologies Corporation in a research report on Tuesday, September 5th. Finally, Credit Suisse Group reissued a “neutral” rating on shares of United Technologies Corporation in a research report on Friday, September 1st. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $124.48.

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United Technologies Corporation (NYSE:UTX) traded up 0.71% during mid-day trading on Monday, reaching $110.33. 1,664,315 shares of the company’s stock traded hands. The stock has a market capitalization of $88.13 billion, a PE ratio of 16.81 and a beta of 1.05. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The firm’s 50-day moving average price is $117.10 and its 200 day moving average price is $117.64.

United Technologies Corporation (NYSE:UTX) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the company posted $1.82 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that United Technologies Corporation will post $6.57 EPS for the current year.

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

About United Technologies Corporation

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

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