Sitrin Capital Management LLC decreased its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.6% during the first quarter, Holdings Channel reports. The institutional investor owned 36,260 shares of the conglomerate’s stock after selling 203 shares during the period. United Technologies Corporation accounts for 2.9% of Sitrin Capital Management LLC’s holdings, making the stock its 21st largest position. Sitrin Capital Management LLC’s holdings in United Technologies Corporation were worth $4,069,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Riggs Asset Managment Co. Inc. boosted its position in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares in the last quarter. Alexandria Capital LLC boosted its position in United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares in the last quarter. Thompson Davis & CO. Inc. boosted its position in United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock valued at $150,000 after buying an additional 249 shares in the last quarter. MCF Advisors LLC boosted its position in United Technologies Corporation by 22.4% in the first quarter. MCF Advisors LLC now owns 1,550 shares of the conglomerate’s stock valued at $174,000 after buying an additional 284 shares in the last quarter. Finally, Advantage Investment Management LLC boosted its position in United Technologies Corporation by 12.8% in the first quarter. Advantage Investment Management LLC now owns 1,731 shares of the conglomerate’s stock valued at $194,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.

Shares of United Technologies Corporation (UTX) opened at 121.49 on Friday. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The company has a market capitalization of $97.04 billion, a price-to-earnings ratio of 18.51 and a beta of 1.06. The company’s 50 day moving average price is $121.70 and its 200-day moving average price is $116.57.

United Technologies Corporation (NYSE:UTX) last issued 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. The company had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share. Analysts anticipate that United Technologies Corporation will post $6.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.30%. 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. United Technologies Corporation’s dividend payout ratio is presently 40.24%.

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Several equities analysts have weighed in on the company. BidaskClub cut United Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Cowen and Company restated a “buy” rating and set a $127.00 price target on shares of United Technologies Corporation in a report on Tuesday, July 25th. Zacks Investment Research upgraded United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a report on Tuesday, May 16th. Stifel Nicolaus restated a “hold” rating and set a $126.00 price target on shares of United Technologies Corporation in a report on Friday, July 7th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. United Technologies Corporation currently has an average rating of “Hold” and an average 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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