Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of United Technologies Corporation (NYSE:UTX) by 71.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,462 shares of the conglomerate’s stock after buying an additional 47,168 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in United Technologies Corporation were worth $13,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gilbert & Cook Inc. purchased a new position in United Technologies Corporation during the second quarter worth $289,000. Oxbow Advisors LLC raised its position in United Technologies Corporation by 2.3% in the second quarter. Oxbow Advisors LLC now owns 13,290 shares of the conglomerate’s stock worth $1,623,000 after buying an additional 305 shares during the last quarter. Rosenbaum Jay D. raised its position in United Technologies Corporation by 5.9% in the second quarter. Rosenbaum Jay D. now owns 7,228 shares of the conglomerate’s stock worth $882,000 after buying an additional 400 shares during the last quarter. Cohen Lawrence B raised its position in United Technologies Corporation by 11.5% in the second quarter. Cohen Lawrence B now owns 19,820 shares of the conglomerate’s stock worth $2,420,000 after buying an additional 2,045 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in United Technologies Corporation during the second quarter worth $580,000. Hedge funds and other institutional investors own 78.85% of the company’s stock.

United Technologies Corporation (NYSE:UTX) traded down 1.50% during mid-day trading on Friday, hitting $117.92. 2,644,747 shares of the stock traded hands. The stock has a market cap of $94.19 billion, a price-to-earnings ratio of 17.96 and a beta of 1.04. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The company’s 50 day moving average price is $118.86 and its 200-day moving average price is $117.62.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. The firm had revenue of $15.28 billion for the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 EPS. Analysts predict that United Technologies Corporation will post $6.58 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders 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 dividend yield of 2.37%. The ex-dividend date is Wednesday, August 16th. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is presently 42.68%.

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A number of research firms recently weighed in on UTX. Credit Suisse Group reissued a “neutral” rating on shares of United Technologies Corporation in a research report on Friday. Jefferies Group LLC reissued a “buy” rating and set a $139.00 price target on shares of United Technologies Corporation in a research report on Tuesday. Royal Bank Of Canada reissued a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a research report on Sunday, August 13th. BidaskClub raised shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Cowen and Company reissued a “buy” rating and set a $127.00 price target on shares of United Technologies Corporation in a research report on Tuesday, July 25th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $123.95.

About United Technologies Corporation

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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