Allen Investment Management LLC increased its position in United Technologies Corporation (NYSE:UTX) by 23.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,647 shares of the conglomerate’s stock after buying an additional 1,438 shares during the period. Allen Investment Management LLC’s holdings in United Technologies Corporation were worth $858,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in shares of United Technologies Corporation by 3.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,513,697 shares of the conglomerate’s stock worth $282,062,000 after buying an additional 74,547 shares during the last quarter. Hartland & Co. LLC boosted its position in shares of United Technologies Corporation by 17.9% in the first quarter. Hartland & Co. LLC now owns 11,882 shares of the conglomerate’s stock worth $1,334,000 after buying an additional 1,800 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of United Technologies Corporation by 16.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 9,373 shares of the conglomerate’s stock worth $1,052,000 after buying an additional 1,315 shares during the last quarter. Legal & General Group Plc boosted its position in shares of United Technologies Corporation by 3.6% in the first quarter. Legal & General Group Plc now owns 3,682,243 shares of the conglomerate’s stock worth $413,192,000 after buying an additional 128,123 shares during the last quarter. Finally, Stockman Wealth Management Inc. boosted its position in shares of United Technologies Corporation by 11.0% in the first quarter. Stockman Wealth Management Inc. now owns 35,308 shares of the conglomerate’s stock worth $3,962,000 after buying an additional 3,507 shares during the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

Shares of United Technologies Corporation (NYSE:UTX) traded down 0.7078% on Thursday, reaching $116.3705. The company’s stock had a trading volume of 569,217 shares. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79. The company has a market cap of $92.95 billion, a P/E ratio of 17.7259 and a beta of 1.06. The company has a 50 day moving average price of $121.48 and a 200 day moving average price of $116.87.

United Technologies Corporation (NYSE:UTX) last released its earnings results 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. The firm had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. On average, analysts anticipate that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio is 40.24%.

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A number of brokerages recently issued reports on UTX. BidaskClub upgraded United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Monday. Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a report on Thursday, July 27th. Credit Suisse Group restated a “buy” rating and issued a $136.00 target price on shares of United Technologies Corporation in a report on Wednesday, July 26th. Cowen and Company restated a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a report on Tuesday, July 25th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $135.00 target price (up from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $123.54.

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.

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

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