CIBC Asset Management Inc raised its stake in United Technologies Corporation (NYSE:UTX) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 79,506 shares of the conglomerate’s stock after buying an additional 750 shares during the quarter. CIBC Asset Management Inc’s holdings in United Technologies Corporation were worth $9,708,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Boston Partners lifted its stake in United Technologies Corporation by 3.0% in the first quarter. Boston Partners now owns 5,385,002 shares of the conglomerate’s stock valued at $604,251,000 after buying an additional 158,696 shares in the last quarter. Legal & General Group Plc lifted its stake in United Technologies Corporation by 3.6% in the first quarter. Legal & General Group Plc now owns 3,682,243 shares of the conglomerate’s stock valued at $413,192,000 after buying an additional 128,123 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in United Technologies Corporation by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 3,544,737 shares of the conglomerate’s stock valued at $397,774,000 after buying an additional 125,003 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in United Technologies Corporation by 0.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,517,626 shares of the conglomerate’s stock valued at $429,537,000 after buying an additional 19,439 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in United Technologies Corporation by 15.8% in the first quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock valued at $384,887,000 after buying an additional 468,515 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

United Technologies Corporation (NYSE UTX) opened at 118.23 on Friday. The firm has a market capitalization of $94.44 billion, a P/E ratio of 18.01 and a beta of 1.05. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79. The company’s 50-day moving average is $114.83 and its 200-day moving average is $117.88.

United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the business earned $1.82 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Cowen and Company reaffirmed a “buy” rating and issued a $127.00 price target on shares of United Technologies Corporation in a research note on Tuesday, July 25th. BidaskClub lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $138.00 price target (up previously from $132.00) on shares of United Technologies Corporation in a research note on Monday, July 10th. Finally, UBS AG lifted their price target on shares of United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Fifteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $123.84.

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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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