Daiwa Securities Group Inc. increased its position in United Technologies Corporation (NYSE:UTX) by 179.4% during the first quarter, Holdings Channel reports. The firm owned 63,110 shares of the conglomerate’s stock after buying an additional 40,520 shares during the period. Daiwa Securities Group Inc.’s holdings in United Technologies Corporation were worth $7,082,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in UTX. Viking Global Investors LP acquired a new position in United Technologies Corporation during the fourth quarter worth about $59,353,000. Parallel Advisors LLC acquired a new position in United Technologies Corporation during the fourth quarter worth about $1,713,000. Flinton Capital Management LLC acquired a new position in United Technologies Corporation during the fourth quarter worth about $33,539,000. Guggenheim Capital LLC raised its position in United Technologies Corporation by 26.9% in the fourth quarter. Guggenheim Capital LLC now owns 442,049 shares of the conglomerate’s stock worth $48,457,000 after buying an additional 93,756 shares in the last quarter. Finally, Mutual of Omaha Bank Wealth Management acquired a new position in United Technologies Corporation during the first quarter worth about $202,000. Institutional investors own 78.98% of the company’s stock.

Shares of United Technologies Corporation (NYSE:UTX) opened at 123.11 on Tuesday. The firm’s 50-day moving average is $121.16 and its 200 day moving average is $114.71. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The firm has a market cap of $98.64 billion, a PE ratio of 19.17 and a beta of 1.07.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. The business had revenue of $13.82 billion during the quarter, compared to analysts’ expectations of $13.50 billion. During the same quarter last year, the business posted $1.47 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts forecast that United Technologies Corporation will post $6.58 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is currently 41.19%.

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A number of equities analysts have issued reports on UTX shares. Zacks Investment Research raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Tuesday, May 16th. UBS AG raised their price target on shares of United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Royal Bank Of Canada reissued a “neutral” rating on shares of United Technologies Corporation in a research report on Thursday, April 27th. Morgan Stanley raised their price target on shares of United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Finally, Cowen and Company raised their price target on shares of United Technologies Corporation from $120.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, March 24th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $122.60.

In other news, VP Robert J. Bailey sold 2,702 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total value of $322,970.06. Following the completion of the transaction, the vice president now owns 5,000 shares in the company, valued at $597,650. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Philippe Delpech sold 7,696 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total value of $925,982.72. Following the completion of the transaction, the insider now owns 63,621 shares of the company’s stock, valued at approximately $7,654,878.72. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

About United Technologies Corporation

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 Corporation (NYSE:UTX)

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