Davidson Investment Advisors lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,986 shares of the conglomerate’s stock after purchasing an additional 135 shares during the period. United Technologies accounts for 1.5% of Davidson Investment Advisors’ holdings, making the stock its 23rd biggest position. Davidson Investment Advisors’ holdings in United Technologies were worth $14,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in UTX. Neville Rodie & Shaw Inc. raised its stake in United Technologies by 0.9% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 77,083 shares of the conglomerate’s stock valued at $10,036,000 after acquiring an additional 703 shares during the period. Cacti Asset Management LLC raised its stake in United Technologies by 7.3% in the 2nd quarter. Cacti Asset Management LLC now owns 164,324 shares of the conglomerate’s stock valued at $21,193,000 after acquiring an additional 11,126 shares during the period. Private Trust Co. NA raised its stake in United Technologies by 5.9% in the 2nd quarter. Private Trust Co. NA now owns 12,401 shares of the conglomerate’s stock valued at $1,614,000 after acquiring an additional 689 shares during the period. Rockland Trust Co. raised its stake in United Technologies by 0.8% in the 2nd quarter. Rockland Trust Co. now owns 101,385 shares of the conglomerate’s stock valued at $13,200,000 after acquiring an additional 801 shares during the period. Finally, DNB Asset Management AS raised its stake in United Technologies by 5.7% in the 2nd quarter. DNB Asset Management AS now owns 166,812 shares of the conglomerate’s stock valued at $21,719,000 after acquiring an additional 8,934 shares during the period. Institutional investors own 80.56% of the company’s stock.

A number of research firms recently weighed in on UTX. Barclays increased their price target on United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. William Blair restated a “hold” rating on shares of United Technologies in a research note on Tuesday, September 3rd. Zacks Investment Research cut United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target on the stock. in a research note on Friday, July 19th. Bank of America restated a “buy” rating and issued a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Finally, Wolfe Research set a $152.00 price target on United Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $154.69.

In other news, VP Robert J. Bailey sold 1,299 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $149.17, for a total transaction of $193,771.83. Following the sale, the vice president now directly owns 2,600 shares of the company’s stock, valued at approximately $387,842. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Akhil Johri sold 4,680 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $135.29, for a total value of $633,157.20. Following the sale, the chief financial officer now directly owns 67,345 shares in the company, valued at $9,111,105.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,306 shares of company stock worth $25,914,056. 0.15% of the stock is currently owned by insiders.

NYSE UTX traded up $0.32 on Tuesday, reaching $148.54. The stock had a trading volume of 83,689 shares, compared to its average volume of 3,276,007. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. The firm has a fifty day moving average of $139.19 and a two-hundred day moving average of $133.75. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $149.35. The company has a market cap of $128.52 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 2.08 and a beta of 1.22.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.31 billion. During the same period in the prior year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts predict that United Technologies Co. will post 8.13 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, November 14th. United Technologies’s dividend payout ratio is 38.63%.

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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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

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