Hendershot Investments Inc. boosted its holdings in United Technologies Co. (NYSE:UTX) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 53,170 shares of the conglomerate’s stock after purchasing an additional 4,141 shares during the quarter. United Technologies makes up approximately 2.6% of Hendershot Investments Inc.’s portfolio, making the stock its 15th largest holding. Hendershot Investments Inc.’s holdings in United Technologies were worth $7,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of UTX. BTR Capital Management Inc. raised its holdings in 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. Squar Milner Financial Services LLC raised its holdings in United Technologies by 13.5% during the 2nd quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock valued at $418,000 after buying an additional 397 shares during the period. Ascension Asset Management LLC raised its holdings in 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 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. Finally, FCG Advisors LLC raised its holdings in United Technologies by 12.3% during the 2nd quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock valued at $460,000 after buying an additional 403 shares during the period. Institutional investors and hedge funds own 81.68% of the company’s stock.

UTX stock opened at $128.94 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. United Technologies Co. has a twelve month low of $115.40 and a twelve month high of $144.15. The firm has a market capitalization of $111.86 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The business had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. During the same quarter last year, the firm posted $1.85 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. Sell-side analysts predict that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a $0.735 dividend. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.28%. United Technologies’s dividend payout ratio (DPR) is presently 42.11%.

In other United Technologies news, VP Robert J. Bailey sold 828 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total value of $111,573.00. Following the sale, the vice president now owns 2,000 shares in the company, valued at $269,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Charles D. Gill sold 14,255 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the sale, the vice president now owns 55,029 shares in the company, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,511 shares of company stock worth $2,521,974. Insiders own 0.17% of the company’s stock.

UTX has been the topic of several recent research reports. ValuEngine lowered United Technologies from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. UBS Group initiated coverage on United Technologies in a report on Wednesday, August 15th. They set a “buy” rating on the stock. Robert W. Baird increased their price target on United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, September 20th. Finally, Jefferies Financial Group set a $157.00 price target on United Technologies and gave the company a “buy” rating in a report on Tuesday, July 10th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $149.70.

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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