State Treasurer State of Michigan decreased its position in shares of United Technologies Corporation (NYSE:UTX) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 492,603 shares of the conglomerate’s stock after selling 1,300 shares during the period. State Treasurer State of Michigan’s holdings in United Technologies Corporation were worth $60,152,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Alexandria Capital LLC boosted its stake in 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 during the period. TCI Wealth Advisors Inc. boosted its stake in United Technologies Corporation by 0.3% in the first quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock worth $281,000 after buying an additional 7 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in United Technologies Corporation by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 1,780 shares of the conglomerate’s stock worth $200,000 after buying an additional 9 shares during the period. First Command Financial Services Inc. boosted its stake in United Technologies Corporation by 0.3% in the first quarter. First Command Financial Services Inc. now owns 3,573 shares of the conglomerate’s stock worth $401,000 after buying an additional 11 shares during the period. Finally, Kissinger Financial Services LLC boosted its stake in United Technologies Corporation by 0.5% in the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock worth $256,000 after buying an additional 11 shares during the period. 78.81% of the stock is currently owned by institutional investors.

Shares of United Technologies Corporation (NYSE:UTX) traded up 0.27% during mid-day trading on Friday, reaching $117.07. The company’s stock had a trading volume of 961,419 shares. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The company’s 50 day moving average price is $121.33 and its 200-day moving average price is $116.86. The company has a market capitalization of $93.51 billion, a price-to-earnings ratio of 17.83 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 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. The firm had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. United Technologies Corporation’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. Analysts predict that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.40%. United Technologies Corporation’s dividend payout ratio (DPR) is 40.24%.

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UTX has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price target on United Technologies Corporation from $118.00 to $125.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. Zacks Investment Research cut United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Credit Suisse Group reiterated a “buy” rating and issued a $136.00 price target on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Morgan Stanley increased their price target on United Technologies Corporation from $120.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Finally, BidaskClub cut United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned 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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