United Technologies Co. (UTX) Holdings Lifted by Confluence Investment Management LLC

Confluence Investment Management LLC grew its position in United Technologies Co. (NYSE:UTX) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 335,053 shares of the conglomerate’s stock after buying an additional 6,207 shares during the period. Confluence Investment Management LLC’s holdings in United Technologies were worth $46,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BTR Capital Management Inc. lifted its stake in shares of United Technologies by 0.4% in the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock worth $11,516,000 after acquiring an additional 375 shares during the period. Squar Milner Financial Services LLC lifted its stake in shares of United Technologies by 13.5% in the 2nd quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock worth $418,000 after acquiring an additional 397 shares during the period. Ascension Asset Management LLC lifted its stake in shares of United Technologies by 2.6% in the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock worth $1,972,000 after acquiring an additional 400 shares during the period. Elmwood Wealth Management Inc. lifted its stake in shares of United Technologies by 5.4% in the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock worth $1,085,000 after acquiring an additional 400 shares during the period. Finally, FCG Advisors LLC lifted its stake in shares of United Technologies by 12.3% in the 2nd quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock worth $460,000 after acquiring an additional 403 shares during the period. Hedge funds and other institutional investors own 81.84% of the company’s stock.

UTX stock opened at $123.23 on Friday. United Technologies Co. has a 12 month low of $115.40 and a 12 month high of $144.15. The company has a market cap of $99.53 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 1.89 and a beta of 0.98. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 1.12.



United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $16.51 billion during the quarter, compared to analyst estimates of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 earnings per share. Equities analysts predict that United Technologies Co. will post 7.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, November 15th. This is an increase from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio is 42.11%.

UTX has been the subject of several recent research reports. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research note on Tuesday, September 25th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. UBS Group initiated coverage on shares of United Technologies in a research note on Wednesday, August 15th. They set a “buy” rating for the company. Finally, Jefferies Financial Group set a $157.00 target price on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. United Technologies has an average rating of “Buy” and a consensus price target of $151.90.

In related news, VP Robert J. Bailey sold 828 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total value of $111,573.00. Following the completion of the sale, the vice president now owns 2,000 shares in the company, valued at approximately $269,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

United Technologies 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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