Evercore Wealth Management LLC boosted its position in shares of United Technologies Co. (NYSE:UTX) by 1.6% during the third quarter, HoldingsChannel.com reports. The firm owned 111,737 shares of the conglomerate’s stock after buying an additional 1,794 shares during the quarter. Evercore Wealth Management LLC’s holdings in United Technologies were worth $15,621,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of UTX. Bradley Foster & Sargent Inc. CT raised its stake in United Technologies by 3.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 524,215 shares of the conglomerate’s stock worth $65,543,000 after purchasing an additional 19,336 shares during the period. Marathon Asset Management LLP raised its stake in United Technologies by 0.3% during the second quarter. Marathon Asset Management LLP now owns 489,329 shares of the conglomerate’s stock worth $61,181,000 after purchasing an additional 1,595 shares during the period. Tdam USA Inc. raised its stake in United Technologies by 24.8% during the second quarter. Tdam USA Inc. now owns 134,768 shares of the conglomerate’s stock worth $16,850,000 after purchasing an additional 26,742 shares during the period. TD Asset Management Inc. raised its stake in United Technologies by 45.3% during the second quarter. TD Asset Management Inc. now owns 1,521,383 shares of the conglomerate’s stock worth $190,219,000 after purchasing an additional 474,175 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in United Technologies by 2.3% during the second quarter. Commonwealth Equity Services LLC now owns 342,637 shares of the conglomerate’s stock worth $42,840,000 after purchasing an additional 7,798 shares during the period. 82.10% of the stock is currently owned by institutional investors.

UTX has been the topic of a number of analyst reports. ValuEngine downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Robert W. Baird lifted their target price on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, September 20th. Cowen reaffirmed a “hold” rating and set a $141.00 target price on shares of United Technologies in a research note on Thursday. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Royal Bank of Canada reduced their target price on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $151.58.

Shares of 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 stock has a market cap of $96.81 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12.

United Technologies (NYSE:UTX) last announced 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 net margin of 7.76% and a return on equity of 17.70%. The business had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same period last year, the business earned $1.73 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that United Technologies Co. will post 7.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders 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 a boost 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 dividend payout ratio (DPR) is currently 44.21%.

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United Technologies 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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