CrestPoint Capital Management LLC lowered its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,800 shares of the conglomerate’s stock after selling 100 shares during the period. United Technologies Corporation makes up 1.0% of CrestPoint Capital Management LLC’s portfolio, making the stock its 16th largest position. CrestPoint Capital Management LLC’s holdings in United Technologies Corporation were worth $2,174,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alexandria Capital LLC boosted its position 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 period. TCI Wealth Advisors Inc. boosted its position in shares of United Technologies Corporation by 0.3% in the first quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock valued at $281,000 after buying an additional 7 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in United Technologies Corporation by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 1,780 shares of the conglomerate’s stock worth $200,000 after buying an additional 9 shares during the last quarter. First Command Financial Services Inc. boosted its stake in United Technologies Corporation by 0.3% in the first quarter. First Command Financial Services Inc. now owns 3,573 shares of the conglomerate’s stock worth $401,000 after buying an additional 11 shares during the last quarter. Finally, Kissinger Financial Services LLC boosted its stake in United Technologies Corporation by 0.5% in the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock worth $256,000 after buying an additional 11 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

United Technologies Corporation (NYSE UTX) opened at 123.41 on Monday. The company has a market cap of $98.88 billion, a price-to-earnings ratio of 19.22 and a beta of 1.07. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The stock’s 50 day moving average price is $121.16 and its 200-day moving average price is $114.71.

United Technologies Corporation (NYSE:UTX) last posted its earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The firm had revenue of $13.82 billion for the quarter, compared to the consensus estimate of $13.50 billion. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 earnings per share. On average, equities research analysts forecast that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

The business also recently announced 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. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.27%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio is currently 41.19%.

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A number of analysts have recently issued reports on the company. Zacks Investment Research cut United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Deutsche Bank AG raised their price objective on United Technologies Corporation from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Vetr raised United Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $125.00 price objective on shares of United Technologies Corporation in a research report on Friday, June 2nd. Finally, HSBC Holdings plc assumed coverage on United Technologies Corporation in a research report on Monday, June 12th. They issued a “hold” rating and a $125.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. United Technologies Corporation presently has an average rating of “Hold” and a consensus price target of $122.60.

In other United Technologies Corporation news, VP Robert J. Bailey sold 2,702 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total transaction of $322,970.06. Following the sale, the vice president now owns 5,000 shares in the company, valued at $597,650. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Philippe Delpech sold 7,696 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $120.32, for a total value of $925,982.72. Following the sale, the insider now owns 63,621 shares in the company, valued at approximately $7,654,878.72. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

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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