Harvey Capital Management Inc. maintained its position in shares of United Technologies Corporation (NYSE:UTX) during the second quarter, Holdings Channel reports. The fund owned 2,400 shares of the conglomerate’s stock at the end of the second quarter. Harvey Capital Management Inc.’s holdings in United Technologies Corporation were worth $293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mutual of Omaha Bank Wealth Management bought a new stake in United Technologies Corporation during the first quarter valued at $202,000. American National Bank boosted its stake in United Technologies Corporation by 154.5% in the first quarter. American National Bank now owns 1,845 shares of the conglomerate’s stock valued at $207,000 after buying an additional 1,120 shares during the period. TNB Financial bought a new stake in United Technologies Corporation during the first quarter valued at $957,000. TRUE Private Wealth Advisors boosted its stake in United Technologies Corporation by 34.5% in the first quarter. TRUE Private Wealth Advisors now owns 3,356 shares of the conglomerate’s stock valued at $379,000 after buying an additional 861 shares during the period. Finally, Marathon Asset Management LLP boosted its stake in United Technologies Corporation by 22.1% in the second quarter. Marathon Asset Management LLP now owns 470,606 shares of the conglomerate’s stock valued at $57,467,000 after buying an additional 85,297 shares during the period. 78.81% of the stock is owned by hedge funds and other institutional investors.

United Technologies Corporation (UTX) remained flat at $117.20 during trading on Thursday. 1,421,826 shares of the stock traded hands. The stock has a market capitalization of $93.62 billion, a P/E ratio of 17.85 and a beta of 1.06. The stock has a 50-day moving average of $121.48 and a 200 day moving average of $116.87. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79.

United Technologies Corporation (NYSE:UTX) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $15.24 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts predict that United Technologies Corporation will post $6.58 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.39%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio is currently 40.24%.

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Several analysts have recently weighed in on UTX shares. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research report on Tuesday, May 16th. UBS AG raised their price objective on shares of United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a research report on Thursday, July 27th. Royal Bank Of Canada restated a “neutral” rating on shares of United Technologies Corporation in a research report on Thursday, April 27th. Finally, Morgan Stanley raised their price objective on shares of United Technologies Corporation from $120.00 to $123.00 and gave the company an “overweight” rating in a research report on Friday, April 28th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. United Technologies Corporation has an average 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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