Oppenheimer Asset Management Inc. purchased a new position in United Technologies Corporation (NYSE:UTX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,765 shares of the conglomerate’s stock, valued at approximately $3,456,000.

Other institutional investors also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. increased its position in United Technologies Corporation by 2.6% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 389,521 shares of the conglomerate’s stock worth $43,708,000 after buying an additional 9,760 shares in the last quarter. Allen Investment Management LLC increased its position in United Technologies Corporation by 23.2% in the first quarter. Allen Investment Management LLC now owns 7,647 shares of the conglomerate’s stock worth $858,000 after buying an additional 1,438 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in United Technologies Corporation by 3.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,513,697 shares of the conglomerate’s stock worth $282,062,000 after buying an additional 74,547 shares in the last quarter. Hartland & Co. LLC increased its position in United Technologies Corporation by 17.9% in the first quarter. Hartland & Co. LLC now owns 11,882 shares of the conglomerate’s stock worth $1,334,000 after buying an additional 1,800 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC increased its position in United Technologies Corporation by 16.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 9,373 shares of the conglomerate’s stock worth $1,052,000 after buying an additional 1,315 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors.

United Technologies Corporation (NYSE UTX) traded up 0.6058% during midday trading on Friday, reaching $117.4673. 619,289 shares of the company were exchanged. The firm’s 50-day moving average is $121.34 and its 200-day moving average is $116.87. The firm has a market cap of $93.83 billion, a P/E ratio of 17.8930 and a beta of 1.06. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79.

United Technologies Corporation (NYSE:UTX) last issued its 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. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The company had revenue of $15.28 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts expect that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.40%. 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 payout ratio is currently 40.24%.

TRADEMARK VIOLATION NOTICE: This story was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.watchlistnews.com/oppenheimer-asset-management-inc-purchases-new-stake-in-united-technologies-corporation-utx/1475377.html.

A number of research firms have weighed in on UTX. BidaskClub raised shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Monday. Jefferies Group LLC reaffirmed a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Credit Suisse Group reaffirmed a “buy” rating and set a $136.00 price target on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Cowen and Company reaffirmed a “buy” rating and set a $127.00 price target on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $135.00 price target (up previously from $130.00) on shares of United Technologies Corporation in a research note on Friday, July 21st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $123.54.

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.

Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Corporation (NYSE:UTX).

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

Receive News & Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.