Stockman Wealth Management Inc. increased its position in shares of United Technologies Corporation (NYSE:UTX) by 11.0% during the first quarter, Holdings Channel reports. The firm owned 35,308 shares of the conglomerate’s stock after buying an additional 3,507 shares during the period. United Technologies Corporation comprises approximately 2.3% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 12th largest position. Stockman Wealth Management Inc.’s holdings in United Technologies Corporation were worth $3,962,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cohen Lawrence B raised its stake in shares of United Technologies Corporation by 23.1% in the first quarter. Cohen Lawrence B now owns 17,775 shares of the conglomerate’s stock worth $1,994,000 after buying an additional 3,335 shares during the last quarter. Triangle Securities Wealth Management raised its stake in shares of United Technologies Corporation by 0.3% in the first quarter. Triangle Securities Wealth Management now owns 24,706 shares of the conglomerate’s stock worth $2,772,000 after buying an additional 86 shares during the last quarter. Atalanta Sosnoff Capital LLC raised its stake in shares of United Technologies Corporation by 1.3% in the first quarter. Atalanta Sosnoff Capital LLC now owns 17,192 shares of the conglomerate’s stock worth $1,929,000 after buying an additional 217 shares during the last quarter. Franklin Street Advisors Inc. NC raised its stake in shares of United Technologies Corporation by 9.3% in the first quarter. Franklin Street Advisors Inc. NC now owns 74,823 shares of the conglomerate’s stock worth $8,396,000 after buying an additional 6,390 shares during the last quarter. Finally, First Financial Bank N.A. Trust Division raised its stake in shares of United Technologies Corporation by 4.2% in the first quarter. First Financial Bank N.A. Trust Division now owns 38,643 shares of the conglomerate’s stock worth $4,336,000 after buying an additional 1,571 shares during the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

United Technologies Corporation (UTX) traded down 0.47% during midday trading on Wednesday, hitting $117.64. The company had a trading volume of 551,223 shares. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The stock has a 50 day moving average price of $121.76 and a 200-day moving average price of $116.66. The stock has a market capitalization of $93.97 billion, a PE ratio of 17.92 and a beta of 1.06.

United Technologies Corporation (NYSE:UTX) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the prior year, the company posted $1.82 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that United Technologies Corporation will post $6.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio is currently 40.24%.

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UTX has been the subject of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $132.00 price target (up previously from $126.00) on shares of United Technologies Corporation in a research note on Thursday, April 27th. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research note on Tuesday, May 16th. BidaskClub raised United Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. UBS AG raised their price target on United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $127.00 price target on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. United Technologies Corporation has an average rating of “Hold” and a consensus target price of $123.54.

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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