Tower Bridge Advisors decreased its stake in United Technologies Corporation (NYSE:UTX) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,612 shares of the conglomerate’s stock after selling 2,640 shares during the quarter. United Technologies Corporation makes up 1.4% of Tower Bridge Advisors’ holdings, making the stock its 24th biggest position. Tower Bridge Advisors’ holdings in United Technologies Corporation were worth $11,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PGGM Investments grew its position in shares of United Technologies Corporation by 52.4% in the second quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock valued at $91,486,000 after purchasing an additional 257,582 shares during the period. Huntington National Bank grew its position in shares of United Technologies Corporation by 3.7% in the second quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock valued at $34,744,000 after purchasing an additional 10,025 shares during the period. Private Wealth Advisors Inc. grew its position in shares of United Technologies Corporation by 14.9% in the first quarter. Private Wealth Advisors Inc. now owns 23,551 shares of the conglomerate’s stock valued at $2,643,000 after purchasing an additional 3,051 shares during the period. Pioneer Investment Management Inc. grew its position in shares of United Technologies Corporation by 2.1% in the first quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock valued at $137,324,000 after purchasing an additional 25,625 shares during the period. Finally, Smith Moore & CO. grew its position in shares of United Technologies Corporation by 11.7% in the first quarter. Smith Moore & CO. now owns 2,701 shares of the conglomerate’s stock valued at $303,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

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Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Cowen and Company reissued a “buy” rating and issued a $127.00 price target on shares of United Technologies Corporation in a research note on Tuesday, July 25th. BidaskClub downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reissued an “overweight” rating and issued a $138.00 price target (up from $132.00) on shares of United Technologies Corporation in a research note on Monday, July 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $126.00 price target on shares of United Technologies Corporation in a research note on Friday, July 7th. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $124.48.

Shares of United Technologies Corporation (UTX) opened at 115.01 on Friday. The stock has a 50 day moving average of $115.56 and a 200-day moving average of $117.60. The stock has a market capitalization of $91.87 billion, a P/E ratio of 17.52 and a beta of 1.05. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts predict that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.

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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