Asset Advisors Corp Boosts Position in United Technologies Corporation (UTX)

Asset Advisors Corp raised its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,293 shares of the conglomerate’s stock after buying an additional 561 shares during the period. United Technologies Corporation accounts for 1.5% of Asset Advisors Corp’s portfolio, making the stock its 24th largest position. Asset Advisors Corp’s holdings in United Technologies Corporation were worth $8,095,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Alexandria Capital LLC raised its position in 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. raised its position in 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. raised its position 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 valued at $200,000 after buying an additional 9 shares during the period. First Command Financial Services Inc. raised its position 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 valued at $401,000 after buying an additional 11 shares during the period. Finally, Kissinger Financial Services LLC raised its position 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 valued at $256,000 after buying an additional 11 shares during the period. Institutional investors own 78.69% of the company’s stock.

United Technologies Corporation (UTX) traded down 0.29% during midday trading on Monday, reaching $115.15. 726,977 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $120.41 and a 200 day moving average price of $117.13. The company has a market cap of $91.98 billion, a P/E ratio of 17.54 and a beta of 1.06. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.07. The business had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. United Technologies Corporation’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. On average, equities analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current 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 paid a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.42%. United Technologies Corporation’s dividend payout ratio (DPR) is 42.68%.

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Several research analysts have commented on UTX shares. Zacks Investment Research cut shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Deutsche Bank AG raised their target price on shares of United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $135.00 target price (up from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Vetr upgraded shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a report on Friday, June 2nd. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. United Technologies Corporation currently has a consensus rating of “Hold” and an average 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.

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

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