Commonwealth Equity Services LLC lessened its stake in United Technologies Co. (NYSE:UTX) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 336,232 shares of the conglomerate’s stock after selling 6,405 shares during the period. Commonwealth Equity Services LLC’s holdings in United Technologies were worth $47,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Front Barnett Associates LLC lifted its stake in United Technologies by 1.0% during the third quarter. Front Barnett Associates LLC now owns 108,455 shares of the conglomerate’s stock worth $15,163,000 after purchasing an additional 1,073 shares during the period. Sentry Investment Management LLC lifted its stake in United Technologies by 2.3% during the third quarter. Sentry Investment Management LLC now owns 50,843 shares of the conglomerate’s stock worth $7,108,000 after purchasing an additional 1,166 shares during the period. Gryphon Financial Partners LLC lifted its stake in United Technologies by 164.4% during the third quarter. Gryphon Financial Partners LLC now owns 2,192 shares of the conglomerate’s stock worth $306,000 after purchasing an additional 1,363 shares during the period. AKO Capital LLP lifted its stake in United Technologies by 22.3% during the third quarter. AKO Capital LLP now owns 691,534 shares of the conglomerate’s stock worth $96,683,000 after purchasing an additional 126,314 shares during the period. Finally, Regal Investment Advisors LLC lifted its stake in United Technologies by 20.8% during the third quarter. Regal Investment Advisors LLC now owns 18,175 shares of the conglomerate’s stock worth $2,541,000 after purchasing an additional 3,129 shares during the period. Institutional investors and hedge funds own 81.67% of the company’s stock.

NYSE:UTX opened at $129.73 on Friday. United Technologies Co. has a 1 year low of $115.40 and a 1 year high of $144.15. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17. The company has a market capitalization of $102.77 billion, a PE ratio of 19.51, a PEG ratio of 1.95 and a beta of 1.09.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The company had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. United Technologies’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Technologies Co. will post 7.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be paid a $0.735 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s payout ratio is 42.11%.

A number of research analysts have commented on UTX shares. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Robert W. Baird raised their price target on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, September 20th. Finally, Royal Bank of Canada cut their price target on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $151.90.

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About United Technologies

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.

Further Reading: Compound Annual Growth Rate (CAGR)

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

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