Highbridge Capital Management LLC boosted its stake in United Technologies Co. (NYSE:UTX) by 79.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,801 shares of the conglomerate’s stock after purchasing an additional 15,801 shares during the quarter. Highbridge Capital Management LLC’s holdings in United Technologies were worth $5,005,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UTX. Credit Agricole S A grew its position in United Technologies by 101.4% in the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after acquiring an additional 436 shares during the last quarter. Fort L.P. bought a new position in United Technologies in the second quarter valued at about $120,000. Psagot Investment House Ltd. bought a new position in United Technologies in the third quarter valued at about $134,000. Adalta Capital Management LLC bought a new position in United Technologies in the second quarter valued at about $163,000. Finally, Integrated Investment Consultants LLC bought a new position in United Technologies in the second quarter valued at about $197,000. 82.10% of the stock is owned by institutional investors and hedge funds.

Shares of UTX stock opened at $120.87 on Thursday. United Technologies Co. has a one year low of $115.40 and a one year high of $144.15. The company has a market capitalization of $97.59 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.88 and a beta of 1.07. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Technologies Co. will post 7.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a $0.735 dividend. The ex-dividend date is Thursday, November 15th. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a yield of 2.43%. United Technologies’s payout ratio is 44.21%.

Several research firms have recently weighed in on UTX. Cowen restated a “hold” rating and set a $141.00 price target on shares of United Technologies in a report on Thursday. Robert W. Baird reduced their target price on United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a report on Wednesday, November 28th. Bank of America set a $180.00 target price on United Technologies and gave the company a “buy” rating in a report on Tuesday, November 27th. UBS Group upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Finally, Jefferies Financial Group set a $148.00 target price on United Technologies and gave the company a “buy” rating in a report on Tuesday, November 27th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. United Technologies currently has an average rating of “Buy” and an average target price 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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