Gulf International Bank UK Ltd Has $29.24 Million Position in United Technologies Corporation (UTX)

Gulf International Bank UK Ltd lowered its stake in shares of United Technologies Corporation (NYSE:UTX) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,492 shares of the conglomerate’s stock after selling 4,650 shares during the period. Gulf International Bank UK Ltd’s holdings in United Technologies Corporation were worth $29,244,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in UTX. Rathbone Brothers plc increased its stake in United Technologies Corporation by 2.0% in the first quarter. Rathbone Brothers plc now owns 15,056 shares of the conglomerate’s stock worth $1,689,000 after buying an additional 300 shares during the period. Watch Point Trust Co increased its stake 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 worth $2,312,000 after buying an additional 1,335 shares during the period. CENTRAL TRUST Co increased its stake in United Technologies Corporation by 0.3% in the first quarter. CENTRAL TRUST Co now owns 75,174 shares of the conglomerate’s stock worth $8,435,000 after buying an additional 221 shares during the period. Manning & Napier Advisors LLC increased its stake 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 worth $12,238,000 after buying an additional 5,925 shares during the period. Finally, Catawba Capital Management VA increased its stake in United Technologies Corporation by 9.5% in the first quarter. Catawba Capital Management VA now owns 22,676 shares of the conglomerate’s stock worth $2,544,000 after buying an additional 1,975 shares during the period. 78.69% of the stock is owned by institutional investors.

United Technologies Corporation (NYSE UTX) traded up 2.26% on Wednesday, hitting $117.86. 1,414,783 shares of the company were exchanged. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The firm’s 50 day moving average is $120.87 and its 200 day moving average is $117.09. The company has a market capitalization of $94.14 billion, a P/E ratio of 17.95 and a beta of 1.06.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The company had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $1.82 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 company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is currently 40.24%.

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A number of equities research analysts have commented on UTX shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $132.00 target price (up previously from $126.00) on shares of United Technologies Corporation in a research report on Thursday, April 27th. Zacks Investment Research raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research report on Tuesday, May 16th. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. UBS AG lifted their target price on shares of United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a research report on Tuesday, July 25th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. United Technologies Corporation 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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