Schwab Charles Investment Management Inc. raised its position in United Technologies Corporation (NYSE:UTX) by 3.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,513,697 shares of the conglomerate’s stock after buying an additional 74,547 shares during the period. Schwab Charles Investment Management Inc.’s holdings in United Technologies Corporation were worth $282,062,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its position in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares in the last quarter. Alexandria Capital LLC boosted its position in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares in the last quarter. Paragon Capital Management Ltd acquired a new position in shares of United Technologies Corporation during the first quarter worth about $139,000. Thompson Davis & CO. Inc. boosted its position in shares of United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after buying an additional 249 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in shares of United Technologies Corporation by 22.4% in the first quarter. MCF Advisors LLC now owns 1,550 shares of the conglomerate’s stock worth $174,000 after buying an additional 284 shares in the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

United Technologies Corporation (UTX) traded up 0.672% on Friday, hitting $117.545. 542,978 shares of the company were exchanged. The stock has a 50 day moving average price of $121.34 and a 200 day moving average price of $116.87. The firm has a market cap of $93.89 billion, a price-to-earnings ratio of 17.905 and a beta of 1.06. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. The business had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. United Technologies Corporation’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 earnings per share. On average, equities research analysts forecast that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The firm also recently declared 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 represents a $2.80 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase 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 payout ratio is 40.24%.

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A number of brokerages have issued reports on UTX. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC reissued a “buy” rating and issued a $132.00 target price (up previously from $126.00) on shares of United Technologies Corporation in a report on Thursday, April 27th. Royal Bank Of Canada reissued a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a report on Friday, June 2nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $135.00 target price (up previously from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Finally, Deutsche Bank AG raised their target price on shares of United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. United Technologies Corporation currently has an average rating of “Hold” and a consensus price target 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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