DnB Asset Management AS reduced its position in United Technologies Corporation (NYSE:UTX) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 169,660 shares of the conglomerate’s stock after selling 2,000 shares during the period. DnB Asset Management AS’s holdings in United Technologies Corporation were worth $20,717,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McQueen Ball & Associates Inc. increased its stake in shares of United Technologies Corporation by 0.8% in the 2nd quarter. McQueen Ball & Associates Inc. now owns 16,500 shares of the conglomerate’s stock valued at $2,015,000 after buying an additional 130 shares during the period. Grassi Investment Management increased its stake in shares of United Technologies Corporation by 1.0% in the 2nd quarter. Grassi Investment Management now owns 42,639 shares of the conglomerate’s stock valued at $5,207,000 after buying an additional 425 shares during the period. Staton Financial Advisors LLC increased its stake in shares of United Technologies Corporation by 3.5% in the 1st quarter. Staton Financial Advisors LLC now owns 37,993 shares of the conglomerate’s stock valued at $4,263,000 after buying an additional 1,292 shares during the period. Atlantic Trust LLC increased its stake in shares of United Technologies Corporation by 15.8% in the 1st quarter. Atlantic Trust LLC now owns 23,999 shares of the conglomerate’s stock valued at $2,693,000 after buying an additional 3,271 shares during the period. Finally, TrueNorth Inc. increased its stake in shares of United Technologies Corporation by 15.8% in the 1st quarter. TrueNorth Inc. now owns 11,475 shares of the conglomerate’s stock valued at $1,288,000 after buying an additional 1,563 shares during the period. 78.85% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the company. BidaskClub cut United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada restated a “hold” rating and issued a $125.00 price target on shares of United Technologies Corporation in a research report on Sunday, August 13th. Stifel Nicolaus restated a “hold” rating and issued a $126.00 price target on shares of United Technologies Corporation in a research report on Friday, July 7th. Zacks Investment Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a research report on Wednesday, May 31st. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $124.48.

TRADEMARK VIOLATION NOTICE: This report was first reported by Daily Political and is owned by of Daily Political. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.dailypolitical.com/2017/09/14/dnb-asset-management-as-lowers-stake-in-united-technologies-corporation-utx.html.

United Technologies Corporation (NYSE UTX) traded up 1.84% during mid-day trading on Thursday, hitting $112.31. The company had a trading volume of 2,517,234 shares. The company’s 50 day moving average price is $116.50 and its 200-day moving average price is $117.60. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The firm has a market capitalization of $89.71 billion, a PE ratio of 17.11 and a beta of 1.05.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that United Technologies Corporation will post $6.57 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for United Technologies Corporation (NYSE:UTX)

Receive News & Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.