Mechanics Bank Trust Department lowered its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,488 shares of the conglomerate’s stock after selling 103 shares during the quarter. United Technologies Corporation comprises 1.3% of Mechanics Bank Trust Department’s portfolio, making the stock its 23rd largest position. Mechanics Bank Trust Department’s holdings in United Technologies Corporation were worth $5,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. increased its position in shares of United Technologies Corporation by 14.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares during the period. Alexandria Capital LLC increased its position in shares of United Technologies Corporation by 0.4% during the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares during the period. Paragon Capital Management Ltd purchased a new position in shares of United Technologies Corporation during the first quarter valued at about $139,000. Exane Derivatives purchased a new position in shares of United Technologies Corporation during the second quarter valued at about $141,000. Finally, Thompson Davis & CO. Inc. increased its position in shares of United Technologies Corporation by 22.9% during the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock valued at $150,000 after buying an additional 249 shares during the period. Institutional investors own 78.85% of the company’s stock.

Several equities analysts recently issued reports on UTX shares. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Monday, May 22nd. BidaskClub upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research report on Wednesday, May 31st. UBS AG boosted their price objective on shares of United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Finally, Cowen and Company reissued a “buy” rating and set a $127.00 price objective on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $124.48.

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Shares of United Technologies Corporation (NYSE:UTX) traded down 0.05% on Friday, hitting $113.08. 6,529,563 shares of the stock traded hands. The stock has a market cap of $90.33 billion, a P/E ratio of 17.53 and a beta of 1.05. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79. The stock’s 50 day moving average price is $115.87 and its 200 day moving average price is $117.52.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the business earned $1.82 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that United Technologies Corporation will post $6.57 EPS for the current fiscal year.

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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