Canada Pension Plan Investment Board lowered its position in shares of United Technologies Co. (NYSE:UTX) by 39.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,239 shares of the conglomerate’s stock after selling 35,692 shares during the quarter. Canada Pension Plan Investment Board’s holdings in United Technologies were worth $7,583,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Trexquant Investment LP acquired a new position in United Technologies during the 3rd quarter worth approximately $4,081,000. Crawford Investment Counsel Inc. boosted its position in United Technologies by 0.3% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 313,035 shares of the conglomerate’s stock worth $43,765,000 after acquiring an additional 967 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in United Technologies by 59.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 367,641 shares of the conglomerate’s stock worth $49,102,000 after acquiring an additional 137,238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in United Technologies by 11.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,408 shares of the conglomerate’s stock worth $32,213,000 after acquiring an additional 22,808 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its position in United Technologies by 108.6% during the 3rd quarter. CIBC World Markets Inc. now owns 126,426 shares of the conglomerate’s stock worth $17,676,000 after acquiring an additional 65,832 shares during the last quarter. 82.10% of the stock is owned by hedge funds and other institutional investors.

UTX opened at $119.45 on Friday. United Technologies Co. has a 1-year low of $115.40 and a 1-year high of $144.15. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $96.81 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the prior year, the business earned $1.73 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts expect that United Technologies Co. will post 7.18 earnings per share for the current year.

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

UTX has been the subject of several recent analyst reports. ValuEngine downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Robert W. Baird increased their price objective on United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, September 20th. Cowen reissued a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a report on Thursday. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Royal Bank of Canada cut their price objective on United Technologies to $148.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $151.58.

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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.

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

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