Patten Group Inc. trimmed its position in United Technologies Co. (NYSE:UTX) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,957 shares of the conglomerate’s stock after selling 585 shares during the quarter. United Technologies accounts for approximately 1.5% of Patten Group Inc.’s portfolio, making the stock its 10th largest holding. Patten Group Inc.’s holdings in United Technologies were worth $3,909,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BTR Capital Management Inc. raised its holdings in shares of United Technologies by 0.4% during the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after buying an additional 375 shares during the period. Ascension Asset Management LLC raised its holdings in shares of United Technologies by 2.6% during the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock valued at $1,972,000 after buying an additional 400 shares during the period. Elmwood Wealth Management Inc. raised its holdings in shares of United Technologies by 5.4% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock valued at $1,085,000 after buying an additional 400 shares during the period. Howe & Rusling Inc. raised its holdings in shares of United Technologies by 13.3% during the 3rd quarter. Howe & Rusling Inc. now owns 3,400 shares of the conglomerate’s stock valued at $475,000 after buying an additional 400 shares during the period. Finally, Pennsylvania Trust Co raised its holdings in shares of United Technologies by 0.4% during the 3rd quarter. Pennsylvania Trust Co now owns 103,636 shares of the conglomerate’s stock valued at $14,489,000 after buying an additional 410 shares during the period. Institutional investors own 82.10% of the company’s stock.

Shares of NYSE UTX opened at $119.45 on Friday. United Technologies Co. has a fifty-two week low of $115.40 and a fifty-two week high of $144.15. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. The company has a market cap of $97.28 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $16.10 billion. During the same quarter last year, the firm earned $1.73 EPS. United Technologies’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts expect that United Technologies Co. will post 7.18 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is 44.21%.

UTX has been the topic of several analyst reports. ValuEngine downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Robert W. Baird raised their target price on United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, September 20th. Cowen reiterated a “hold” rating and set a $141.00 target price on shares of United Technologies in a report on Thursday. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Royal Bank of Canada dropped their target price on United Technologies to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target 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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