Monarch Capital Management Inc. lessened its stake in shares of United Technologies Co. (NYSE:UTX) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,245 shares of the conglomerate’s stock after selling 899 shares during the period. United Technologies accounts for approximately 1.9% of Monarch Capital Management Inc.’s portfolio, making the stock its 21st biggest position. Monarch Capital Management Inc.’s holdings in United Technologies were worth $5,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BTR Capital Management Inc. grew its position in United Technologies by 0.4% in 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 in the last quarter. Ascension Asset Management LLC grew its position in United Technologies by 2.6% in 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 in the last quarter. Elmwood Wealth Management Inc. grew its position in United Technologies by 5.4% in 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 in the last quarter. Howe & Rusling Inc. grew its position in United Technologies by 13.3% in 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 in the last quarter. Finally, Pennsylvania Trust Co grew its position in United Technologies by 0.4% in the 3rd quarter. Pennsylvania Trust Co now owns 103,636 shares of the conglomerate’s stock valued at $14,489,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 82.10% of the company’s stock.

Several research firms have weighed in on UTX. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Robert W. Baird dropped their target price on United Technologies from $167.00 to $149.00 and set an “outperform” rating for the company in a research report on Wednesday, November 28th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, November 23rd. Bank of America set a $180.00 target price on United Technologies and gave the company a “buy” rating in a research report on Tuesday, November 27th. Finally, Cowen reaffirmed a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $151.58.

Shares of United Technologies stock opened at $119.45 on Friday. United Technologies Co. has a one year low of $115.40 and a one year high of $144.15. The stock has a market cap of $97.28 billion, a PE ratio of 17.96, a P/E/G ratio of 1.85 and a beta of 1.07. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.11. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The business had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that United Technologies Co. will post 7.18 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, November 15th. This is an increase from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.46%. United Technologies’s payout ratio is currently 44.21%.

TRADEMARK VIOLATION NOTICE: “Monarch Capital Management Inc. Has $5.35 Million Stake in United Technologies Co. (UTX)” was originally published by Daily Political and is owned by of Daily Political. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://www.dailypolitical.com/2018/12/08/monarch-capital-management-inc-has-5-35-million-stake-in-united-technologies-co-utx.html.

United Technologies Company Profile

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.

Featured Article: Purposes and Functions of the Federal Reserve

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.