Guinness Asset Management Ltd boosted its position in United Technologies Co. (NYSE:UTX) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,370 shares of the conglomerate’s stock after acquiring an additional 8,970 shares during the period. United Technologies accounts for 3.1% of Guinness Asset Management Ltd’s portfolio, making the stock its 4th largest position. Guinness Asset Management Ltd’s holdings in United Technologies were worth $16,969,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. BTR Capital Management Inc. lifted its stake in United Technologies by 0.4% in the second quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after buying an additional 375 shares during the period. Squar Milner Financial Services LLC raised its position in shares of United Technologies by 13.5% during the second quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock worth $418,000 after purchasing an additional 397 shares during the period. Ascension Asset Management LLC raised its position in shares of United Technologies by 2.6% during the second quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock worth $1,972,000 after purchasing an additional 400 shares during the period. Elmwood Wealth Management Inc. raised its position in shares of United Technologies by 5.4% during the third quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock worth $1,085,000 after purchasing an additional 400 shares during the period. Finally, FCG Advisors LLC raised its position in shares of United Technologies by 12.3% during the second quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock worth $460,000 after purchasing an additional 403 shares during the period. 81.68% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Charles D. Gill sold 14,255 shares of United Technologies stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the sale, the vice president now owns 55,029 shares of the company’s stock, valued at approximately $7,507,606.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 828 shares of United Technologies stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total value of $111,573.00. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $269,500. The disclosure for this sale can be found here. In the last three months, insiders sold 18,511 shares of company stock worth $2,521,974. 0.17% of the stock is owned by insiders.

UTX has been the topic of a number of research analyst reports. ValuEngine lowered United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. UBS Group initiated coverage on United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. Robert W. Baird raised their price target on United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. Finally, Jefferies Financial Group set a $157.00 price target on United Technologies and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $149.70.

Shares of United Technologies stock opened at $130.07 on Thursday. United Technologies Co. has a 52-week low of $115.40 and a 52-week high of $144.15. The company has a market capitalization of $111.86 billion, a P/E ratio of 19.56, a PEG ratio of 2.12 and a beta of 0.98. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.82.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The business had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. During the same quarter last year, the firm earned $1.85 EPS. United Technologies’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts forecast that United Technologies Co. will post 7.23 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, November 15th. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is currently 42.11%.

United Technologies Company Profile

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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

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