Northstar Asset Management LLC cut its stake in United Technologies Corporation (NYSE:UTX) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,507 shares of the conglomerate’s stock after selling 2,395 shares during the period. United Technologies Corporation makes up about 1.7% of Northstar Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Northstar Asset Management LLC’s holdings in United Technologies Corporation were worth $3,725,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. increased its stake in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares during the last quarter. Alexandria Capital LLC increased its stake in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares during the last quarter. Exane Derivatives acquired a new stake in shares of United Technologies Corporation during the second quarter valued at $141,000. Proficio Capital Partners LLC increased its stake in shares of United Technologies Corporation by 42.3% in the first quarter. Proficio Capital Partners LLC now owns 1,298 shares of the conglomerate’s stock valued at $158,000 after buying an additional 386 shares during the last quarter. Finally, Thompson Davis & CO. Inc. increased its stake in shares of United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock valued at $150,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.

United Technologies Corporation (NYSE UTX) traded up 1.50% during mid-day trading on Tuesday, hitting $117.06. The stock had a trading volume of 2,171,562 shares. The stock has a market cap of $93.50 billion, a P/E ratio of 17.83 and a beta of 1.06. The firm has a 50-day moving average of $119.55 and a 200-day moving average of $117.36. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The business had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 EPS. On average, analysts forecast that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s payout ratio is 42.68%.

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Several brokerages have recently weighed in on UTX. Jefferies Group LLC reiterated a “buy” rating and issued a $139.00 price target on shares of United Technologies Corporation in a report on Tuesday. BidaskClub downgraded United Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 price target on shares of United Technologies Corporation in a report on Sunday, August 13th. Zacks Investment Research upgraded United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a report on Tuesday, May 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $126.00 price target on shares of United Technologies Corporation in a report on Friday, July 7th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price 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.

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

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