Lord Abbett & CO. LLC lowered its holdings in shares of United Technologies Co. (NYSE:UTX) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,215,000 shares of the conglomerate’s stock after selling 78,900 shares during the quarter. Lord Abbett & CO. LLC owned 0.15% of United Technologies worth $148,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Goelzer Investment Management Inc. lifted its holdings in shares of United Technologies by 0.3% in the 1st quarter. Goelzer Investment Management Inc. now owns 48,204 shares of the conglomerate’s stock worth $5,409,000 after acquiring an additional 138 shares during the last quarter. Lincoln National Corp lifted its holdings in shares of United Technologies by 102.1% in the 1st quarter. Lincoln National Corp now owns 4,961 shares of the conglomerate’s stock worth $557,000 after acquiring an additional 2,506 shares during the last quarter. Thomaspartners Inc. lifted its holdings in shares of United Technologies by 9.1% in the 1st quarter. Thomaspartners Inc. now owns 2,401,311 shares of the conglomerate’s stock worth $269,451,000 after acquiring an additional 200,659 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of United Technologies in the 1st quarter worth about $40,211,000. Finally, Capital Analysts LLC lifted its holdings in shares of United Technologies by 9.0% in the 1st quarter. Capital Analysts LLC now owns 8,700 shares of the conglomerate’s stock worth $976,000 after acquiring an additional 718 shares during the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.

United Technologies Co. (NYSE UTX) traded up $2.41 during mid-day trading on Friday, reaching $126.17. 6,193,558 shares of the company traded hands, compared to its average volume of 2,996,031. The stock has a market cap of $98,831.02, a P/E ratio of 18.69, a PEG ratio of 2.23 and a beta of 1.07. United Technologies Co. has a 52 week low of $106.85 and a 52 week high of $126.44. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. analysts predict that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, November 16th. United Technologies’s dividend payout ratio (DPR) is 43.41%.

Several research firms have recently issued reports on UTX. Vertical Research lowered shares of United Technologies from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, September 5th. Deutsche Bank reduced their price target on shares of United Technologies from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 6th. Cowen reaffirmed a “hold” rating and issued a $120.00 price target on shares of United Technologies in a research note on Friday, November 10th. Bank of America reaffirmed a “buy” rating and issued a $140.00 price target on shares of United Technologies in a research note on Wednesday, September 6th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $126.00 price target on shares of United Technologies in a research note on Tuesday, October 10th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. United Technologies presently has an average rating of “Hold” and a consensus target price of $125.63.

In other United Technologies news, VP Robert J. Bailey sold 636 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $124.35, for a total transaction of $79,086.60. Following the transaction, the vice president now owns 1,500 shares of the company’s stock, valued at approximately $186,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Bailey sold 833 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $122.66, for a total transaction of $102,175.78. Following the transaction, the vice president now directly owns 2,000 shares in the company, valued at approximately $245,320. The disclosure for this sale can be found here. Insiders have sold a total of 11,261 shares of company stock worth $1,363,783 in the last three months. Insiders own 0.16% of the company’s stock.

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About United Technologies

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 (NYSE:UTX)

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