United Technologies Corporation (NYSE:UTX) Stake Cut by Reilly Financial Advisors LLC

Reilly Financial Advisors LLC reduced its position in United Technologies Corporation (NYSE:UTX) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,283 shares of the conglomerate’s stock after selling 3,668 shares during the period. Reilly Financial Advisors LLC’s holdings in United Technologies Corporation were worth $10,292,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. raised its stake in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares during the last quarter. Alexandria Capital LLC raised 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 in the last quarter. Paragon Capital Management Ltd purchased a new position in shares of United Technologies Corporation during the first quarter valued at approximately $139,000. Exane Derivatives purchased a new position in shares of United Technologies Corporation during the second quarter valued at approximately $141,000. Finally, Thompson Davis & CO. Inc. raised its position in shares of United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock valued at $150,000 after buying an additional 249 shares in the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

Shares of United Technologies Corporation (NYSE UTX) traded up 0.11% during midday trading on Friday, reaching $116.89. The company’s stock had a trading volume of 2,090,943 shares. The stock’s 50-day moving average price is $121.18 and its 200-day moving average price is $116.91. The company has a market cap of $93.37 billion, a P/E ratio of 17.81 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 issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company had revenue of $15.28 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the business earned $1.82 EPS. United Technologies Corporation’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 2.40%. United Technologies Corporation’s dividend payout ratio is 40.24%.

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UTX has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and set a $132.00 price target (up previously from $126.00) on shares of United Technologies Corporation in a research note on Thursday, April 27th. Zacks Investment Research upgraded United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Tuesday, May 16th. BidaskClub upgraded United Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. UBS AG raised their price target on United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, Cowen and Company restated a “buy” rating and set a $127.00 price target on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $123.54.

United Technologies Corporation Company Profile

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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