Front Barnett Associates LLC reduced its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,475 shares of the conglomerate’s stock after selling 828 shares during the quarter. United Technologies Corporation makes up about 2.4% of Front Barnett Associates LLC’s holdings, making the stock its 13th biggest holding. Front Barnett Associates LLC’s holdings in United Technologies Corporation were worth $13,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of UTX. Legal & General Group Plc boosted its holdings in shares of United Technologies Corporation by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 3,729,056 shares of the conglomerate’s stock valued at $455,358,000 after buying an additional 46,813 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of United Technologies Corporation by 3.7% during the 1st 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. boosted its holdings in shares of United Technologies Corporation by 0.6% during the 2nd 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. UBS Asset Management Americas Inc. boosted its holdings in shares of United Technologies Corporation by 11.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 2,858,758 shares of the conglomerate’s stock valued at $320,781,000 after buying an additional 301,484 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of United Technologies Corporation by 25.2% during the 1st quarter. Swiss National Bank now owns 2,771,721 shares of the conglomerate’s stock valued at $311,015,000 after buying an additional 557,300 shares in the last quarter. 78.33% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on UTX. BidaskClub cut shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 price target on shares of United Technologies Corporation in a research note on Sunday, August 13th. Cowen and Company reiterated a “hold” rating and issued a $120.00 price target on shares of United Technologies Corporation in a research note on Friday, November 10th. Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $125.15.

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In other news, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

United Technologies Corporation (NYSE UTX) opened at $116.38 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The stock has a market cap of $93,057.35, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.10 and a beta of 1.07. United Technologies Corporation has a one year low of $106.21 and a one year high of $124.79.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. The firm had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. equities research analysts forecast that United Technologies Corporation will post 6.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, November 16th. United Technologies Corporation’s payout ratio is currently 43.41%.

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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