Metropolitan Life Insurance Co NY decreased its position in shares of United Technologies Co. (NYSE:UTX) by 3.5% during the 1st quarter, Holdings Channel reports. The firm owned 112,749 shares of the conglomerate’s stock after selling 4,077 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in United Technologies were worth $14,532,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. B. Riley Wealth Management Inc. grew its holdings in shares of United Technologies by 9.8% during the first quarter. B. Riley Wealth Management Inc. now owns 4,395 shares of the conglomerate’s stock worth $567,000 after purchasing an additional 393 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its holdings in shares of United Technologies by 2.3% during the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 12,416 shares of the conglomerate’s stock worth $1,600,000 after purchasing an additional 282 shares during the last quarter. M Holdings Securities Inc. grew its holdings in shares of United Technologies by 11.9% during the first quarter. M Holdings Securities Inc. now owns 65,283 shares of the conglomerate’s stock worth $8,414,000 after purchasing an additional 6,946 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of United Technologies by 4.0% during the first quarter. Nordea Investment Management AB now owns 105,087 shares of the conglomerate’s stock worth $13,546,000 after purchasing an additional 4,077 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of United Technologies by 42.5% during the first quarter. EP Wealth Advisors LLC now owns 115,471 shares of the conglomerate’s stock worth $14,883,000 after purchasing an additional 34,448 shares during the last quarter. 80.61% of the stock is currently owned by institutional investors.

Shares of NYSE:UTX opened at $124.29 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.79. The stock has a market capitalization of $108.05 billion, a P/E ratio of 16.33, a PEG ratio of 1.79 and a beta of 1.26. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.20. The firm had revenue of $18.37 billion during the quarter, compared to the consensus estimate of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 earnings per share. On average, sell-side analysts anticipate that United Technologies Co. will post 7.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be given a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.37%. United Technologies’s payout ratio is currently 38.63%.

Several equities analysts have issued reports on UTX shares. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Morgan Stanley raised their price objective on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Friday. Barclays increased their target price on shares of United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $159.00 target price on shares of United Technologies in a research note on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $149.86.

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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.

See Also: Diversification in Investing

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

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