United Technologies Corporation (UTX) Stake Lessened by Renaissance Group LLC

Renaissance Group LLC decreased its position in United Technologies Corporation (NYSE:UTX) by 1.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,772 shares of the conglomerate’s stock after selling 125 shares during the period. Renaissance Group LLC’s holdings in United Technologies Corporation were worth $949,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of UTX. Bbva Compass Bancshares Inc. grew its holdings in shares of United Technologies Corporation by 2.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 104,785 shares of the conglomerate’s stock worth $11,759,000 after purchasing an additional 2,801 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of United Technologies Corporation by 15.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 192,380 shares of the conglomerate’s stock worth $21,818,000 after purchasing an additional 25,571 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of United Technologies Corporation by 179.4% in the first quarter. Daiwa Securities Group Inc. now owns 63,110 shares of the conglomerate’s stock worth $7,082,000 after purchasing an additional 40,520 shares during the last quarter. Tower Bridge Advisors grew its holdings in shares of United Technologies Corporation by 0.5% in the first quarter. Tower Bridge Advisors now owns 100,252 shares of the conglomerate’s stock worth $11,249,000 after purchasing an additional 452 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of United Technologies Corporation by 17.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 28,592 shares of the conglomerate’s stock worth $3,208,000 after purchasing an additional 4,193 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

United Technologies Corporation (NYSE UTX) opened at $118.80 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $95,000.00, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.13 and a beta of 1.07. United Technologies Corporation has a 52-week low of $106.21 and a 52-week high of $124.79.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 earnings per share. equities research analysts forecast that United Technologies Corporation will post 6.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio is presently 43.34%.

In other news, EVP Michael R. Dumais sold 2,986 shares of United Technologies Corporation stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the transaction, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

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Several research analysts have recently issued reports on UTX shares. Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a report on Thursday, July 27th. Credit Suisse Group restated a “buy” rating and issued a $136.00 target price on shares of United Technologies Corporation in a report on Wednesday, July 26th. Cowen and Company reaffirmed a “buy” rating and issued a $127.00 price target on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Bank of America Corporation reaffirmed a “buy” rating and issued a $140.00 price target on shares of United Technologies Corporation in a research note on Wednesday, September 6th. Finally, Vertical Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Tuesday, September 5th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $125.15.

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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