Daiwa Securities Group Inc. raised its holdings in shares of United Technologies Co. (NYSE:UTX) by 10.8% during the third quarter, Holdings Channel reports. The fund owned 63,315 shares of the conglomerate’s stock after buying an additional 6,152 shares during the period. Daiwa Securities Group Inc.’s holdings in United Technologies were worth $8,644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its position in United Technologies by 2.2% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the conglomerate’s stock worth $447,000 after buying an additional 71 shares during the last quarter. Eads & Heald Wealth Management grew its position in United Technologies by 0.5% during the 3rd quarter. Eads & Heald Wealth Management now owns 14,267 shares of the conglomerate’s stock worth $1,948,000 after purchasing an additional 72 shares in the last quarter. Wealth Architects LLC grew its position in United Technologies by 4.3% during the 2nd quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock worth $236,000 after purchasing an additional 75 shares in the last quarter. Patten Group Inc. grew its position in United Technologies by 0.3% during the 2nd quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock worth $3,643,000 after purchasing an additional 75 shares in the last quarter. Finally, Glenview State Bank Trust DEPT. grew its position in United Technologies by 3.0% during the 2nd quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock worth $331,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 80.62% of the company’s stock.

Several equities analysts have weighed in on UTX shares. Bank of America reiterated a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Cowen reiterated a “buy” rating and set a $150.00 price objective on shares of United Technologies in a research report on Wednesday, September 4th. William Blair reiterated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on shares of United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Barclays lifted their price objective on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $154.69.

Shares of UTX stock traded up $0.15 on Friday, hitting $148.88. The company’s stock had a trading volume of 1,691,511 shares, compared to its average volume of 3,289,642. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $149.35. The firm’s fifty day moving average price is $138.45 and its 200-day moving average price is $133.57. The stock has a market capitalization of $127.63 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.07 and a beta of 1.22.

United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.31 billion. During the same quarter in the previous year, the business earned $1.93 EPS. United Technologies’s quarterly revenue was up 18.1% compared to the same quarter last year. Analysts predict that United Technologies Co. will post 8.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, November 14th. United Technologies’s payout ratio is presently 38.63%.

In related news, VP Charles D. Gill sold 33,763 shares of United Technologies stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $135.04, for a total value of $4,559,355.52. Following the completion of the sale, the vice president now owns 112,458 shares of the company’s stock, valued at approximately $15,186,328.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akhil Johri sold 4,680 shares of United Technologies stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $135.29, for a total transaction of $633,157.20. Following the completion of the sale, the chief financial officer now directly owns 67,345 shares of the company’s stock, valued at approximately $9,111,105.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,007 shares of company stock valued at $25,720,285. 0.15% of the stock is owned by company insiders.

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.

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

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