Carret Asset Management LLC cut its position in United Technologies Corporation (NYSE:UTX) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,682 shares of the conglomerate’s stock after selling 846 shares during the period. Carret Asset Management LLC’s holdings in United Technologies Corporation were worth $1,872,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of UTX. Pekin Singer Strauss Asset Management IL raised its stake in shares of United Technologies Corporation by 6.6% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 4,856 shares of the conglomerate’s stock worth $532,000 after buying an additional 300 shares in the last quarter. Wealthfront Inc. bought a new stake in shares of United Technologies Corporation during the fourth quarter worth $1,311,000. RMB Capital Management LLC bought a new stake in shares of United Technologies Corporation during the fourth quarter worth $1,150,000. Perigon Wealth Management LLC raised its stake in shares of United Technologies Corporation by 16.5% in the fourth quarter. Perigon Wealth Management LLC now owns 29,625 shares of the conglomerate’s stock worth $3,328,000 after buying an additional 4,202 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in shares of United Technologies Corporation by 74.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,782 shares of the conglomerate’s stock worth $1,794,000 after buying an additional 6,754 shares in the last quarter. 78.45% of the stock is owned by institutional investors.

Shares of United Technologies Corporation (NYSE UTX) opened at 121.49 on Friday. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The firm has a market cap of $97.04 billion, a price-to-earnings ratio of 18.51 and a beta of 1.06. The stock’s 50 day moving average is $121.70 and its 200-day moving average is $116.57.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the firm earned $1.82 EPS. United Technologies Corporation’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts anticipate that United Technologies Corporation will post $6.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be paid a dividend of $0.70 per share. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 2.30%. United Technologies Corporation’s dividend payout ratio (DPR) is presently 40.24%.

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UTX has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of United Technologies Corporation in a research note on Thursday, April 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $132.00 price target (up from $126.00) on shares of United Technologies Corporation in a research note on Thursday, April 27th. Deutsche Bank AG upped their price target on shares of United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Morgan Stanley upped 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 note on Friday, April 28th. Finally, Vetr raised shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. United Technologies Corporation currently has a consensus rating of “Hold” and a consensus price target of $123.54.

United Technologies Corporation Company Profile

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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