Flossbach Von Storch AG raised its stake in shares of United Technologies Corporation (NYSE:UTX) by 95.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,617,008 shares of the conglomerate’s stock after acquiring an additional 790,496 shares during the period. United Technologies Corporation comprises approximately 2.2% of Flossbach Von Storch AG’s investment portfolio, making the stock its 15th largest holding. Flossbach Von Storch AG owned 0.20% of United Technologies Corporation worth $197,453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Waldron LP raised its holdings in shares of United Technologies Corporation by 62.0% in the first quarter. Waldron LP now owns 6,270 shares of the conglomerate’s stock valued at $703,000 after purchasing an additional 2,400 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in United Technologies Corporation by 2.8% during the first quarter. Rehmann Capital Advisory Group now owns 10,386 shares of the conglomerate’s stock worth $1,165,000 after purchasing an additional 279 shares during the last quarter. UMB Bank N A MO grew its position in United Technologies Corporation by 6.3% in the 1st quarter. UMB Bank N A MO now owns 56,495 shares of the conglomerate’s stock worth $6,339,000 after purchasing an additional 3,373 shares in the last quarter. Westbourne Investment Advisors Inc. grew its position in United Technologies Corporation by 8.1% in the 1st quarter. Westbourne Investment Advisors Inc. now owns 4,810 shares of the conglomerate’s stock worth $540,000 after purchasing an additional 360 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in United Technologies Corporation by 1.3% in the 1st quarter. Fisher Asset Management LLC now owns 8,535,397 shares of the conglomerate’s stock worth $957,757,000 after purchasing an additional 106,552 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Several equities research analysts have commented on UTX shares. Cowen and Company lowered shares of United Technologies Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $127.00 to $120.00 in a research note on Wednesday, September 6th. Bank of America Corporation restated a “buy” rating and issued a $140.00 target price on shares of United Technologies Corporation in a research note on Wednesday, September 6th. Jefferies Group LLC restated a “buy” rating and issued a $139.00 target price on shares of United Technologies Corporation in a research note on Tuesday, August 29th. Credit Suisse Group restated a “buy” rating and issued a $136.00 target price on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Finally, BidaskClub raised United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $124.48.

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United Technologies Corporation (NYSE:UTX) opened at 117.58 on Tuesday. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The stock has a market capitalization of $93.92 billion, a price-to-earnings ratio of 17.91 and a beta of 1.05. The company has a 50-day moving average of $114.70 and a 200-day moving average of $117.81.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. United Technologies Corporation’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that United Technologies Corporation will post $6.57 earnings per share 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.

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

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