HighTower Advisors LLC boosted its position in United Technologies Corporation (NYSE:UTX) by 10.1% during the first quarter, Holdings Channel reports. The firm owned 280,388 shares of the conglomerate’s stock after buying an additional 25,728 shares during the period. HighTower Advisors LLC’s holdings in United Technologies Corporation were worth $31,439,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its stake 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 during the period. Alexandria Capital LLC raised its stake 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 during the period. Paragon Capital Management Ltd purchased a new stake in shares of United Technologies Corporation during the first quarter worth about $139,000. Thompson Davis & CO. Inc. raised its stake 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 during the period. Finally, MCF Advisors LLC raised its stake 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 during the period. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Shares of United Technologies Corporation (NYSE:UTX) traded up 0.11% during trading on Friday, hitting $116.89. 2,090,943 shares of the stock were exchanged. The stock’s 50 day moving average is $121.18 and its 200-day moving average is $116.91. The stock has a market cap of $93.37 billion, a price-to-earnings ratio of 17.81 and a beta of 1.06. 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 posted its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The company 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%. The company’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. Equities research analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.40%. 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 currently 40.24%.

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UTX has been the topic of a number of analyst reports. Jefferies Group LLC restated a “buy” rating and set a $132.00 target price (up previously from $126.00) on shares of United Technologies Corporation in a research report on Thursday, April 27th. Zacks Investment Research raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Tuesday, May 16th. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. UBS AG increased their price target on shares of 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 set a $127.00 price target on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price 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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