Nomura Asset Management Co. Ltd. cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 3.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 149,942 shares of the conglomerate’s stock after selling 4,585 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in United Technologies were worth $20,963,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BTR Capital Management Inc. grew its position in shares of United Technologies by 0.4% during the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after acquiring an additional 375 shares during the period. Squar Milner Financial Services LLC grew its position in shares of United Technologies by 13.5% during the 2nd quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock valued at $418,000 after acquiring an additional 397 shares during the period. Ascension Asset Management LLC grew its position in shares of United Technologies by 2.6% during the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock valued at $1,972,000 after acquiring an additional 400 shares during the period. Elmwood Wealth Management Inc. grew its position in shares of United Technologies by 5.4% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock valued at $1,085,000 after acquiring an additional 400 shares during the period. Finally, Howe & Rusling Inc. grew its position in shares of United Technologies by 13.3% during the 3rd quarter. Howe & Rusling Inc. now owns 3,400 shares of the conglomerate’s stock valued at $475,000 after acquiring an additional 400 shares during the period. 82.16% of the stock is owned by institutional investors.

UTX has been the subject of a number of research reports. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a research report on Thursday, October 4th. Royal Bank of Canada reduced their target price on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. ValuEngine downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. UBS Group initiated coverage on shares of United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating for the company. Finally, Robert W. Baird increased their target price on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, September 20th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. United Technologies presently has a consensus rating of “Buy” and an average price target of $151.90.

United Technologies stock opened at $130.13 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.17 and a current ratio of 1.52. The firm has a market cap of $104.23 billion, a PE ratio of 19.57, a P/E/G ratio of 1.98 and a beta of 1.09. United Technologies Co. has a fifty-two week low of $115.40 and a fifty-two week high of $144.15.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.11. The company had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 EPS. As a group, equities analysts forecast that United Technologies Co. will post 7.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is 44.21%.

COPYRIGHT VIOLATION WARNING: “Nomura Asset Management Co. Ltd. Sells 4,585 Shares of United Technologies Co. (UTX)” was posted by Daily Political and is owned by of Daily Political. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dailypolitical.com/2018/11/19/nomura-asset-management-co-ltd-sells-4585-shares-of-united-technologies-co-utx.html.

About United Technologies

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

Read More: How Investors Use a Balance Sheet

Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).

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

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