Community Financial Services Group LLC cut its stake in shares of United Technologies Corporation (NYSE:UTX) by 10.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,940 shares of the conglomerate’s stock after selling 223 shares during the period. Community Financial Services Group LLC’s holdings in United Technologies Corporation were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Chevy Chase Trust Holdings Inc. increased its position in United Technologies Corporation by 0.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 664,026 shares of the conglomerate’s stock valued at $74,510,000 after buying an additional 6,102 shares during the last quarter. Rathbone Brothers plc increased its position in United Technologies Corporation by 2.0% in the first quarter. Rathbone Brothers plc now owns 15,056 shares of the conglomerate’s stock valued at $1,689,000 after buying an additional 300 shares during the last quarter. Watch Point Trust Co increased its position in United Technologies Corporation by 6.9% in the first quarter. Watch Point Trust Co now owns 20,606 shares of the conglomerate’s stock valued at $2,312,000 after buying an additional 1,335 shares during the last quarter. CENTRAL TRUST Co increased its position in United Technologies Corporation by 0.3% in the first quarter. CENTRAL TRUST Co now owns 75,174 shares of the conglomerate’s stock valued at $8,435,000 after buying an additional 221 shares during the last quarter. Finally, Manning & Napier Advisors LLC increased its position in United Technologies Corporation by 5.7% in the first quarter. Manning & Napier Advisors LLC now owns 109,078 shares of the conglomerate’s stock valued at $12,238,000 after buying an additional 5,925 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Shares of United Technologies Corporation (NYSE UTX) traded down 0.66% on Tuesday, hitting $116.38. The company’s stock had a trading volume of 343,121 shares. The stock has a market capitalization of $92.96 billion, a P/E ratio of 17.73 and a beta of 1.06. The stock’s 50 day moving average price is $121.04 and its 200 day moving average price is $117.04. 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 issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. The firm had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. United Technologies Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 earnings per share. On average, analysts forecast that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a yield of 2.39%. United Technologies Corporation’s dividend payout ratio is currently 40.24%.

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UTX has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of United Technologies Corporation in a research note on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and set a $132.00 price target (up previously from $126.00) on shares of United Technologies Corporation in a research report on Thursday, April 27th. Deutsche Bank AG raised their price target on United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Morgan Stanley raised their price target on United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Finally, Vetr raised United Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus 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.

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

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