United Technologies Corporation (NYSE:UTX) Position Lowered by Cue Financial Group Inc.

Cue Financial Group Inc. reduced its position in shares of United Technologies Corporation (NYSE:UTX) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,366 shares of the conglomerate’s stock after selling 44 shares during the period. Cue Financial Group Inc.’s holdings in United Technologies Corporation were worth $826,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of United Technologies Corporation during the fourth quarter valued at approximately $740,872,000. Putnam Investments LLC raised its position in shares of United Technologies Corporation by 248.3% in the fourth quarter. Putnam Investments LLC now owns 1,385,091 shares of the conglomerate’s stock valued at $151,834,000 after buying an additional 987,378 shares during the period. Viking Global Investors LP bought a new position in shares of United Technologies Corporation during the fourth quarter valued at approximately $59,353,000. American Century Companies Inc. raised its position in shares of United Technologies Corporation by 15.8% in the first quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock valued at $384,887,000 after buying an additional 468,515 shares during the period. Finally, I.G. Investment Management LTD. raised its position in shares of United Technologies Corporation by 21.1% in the fourth quarter. I.G. Investment Management LTD. now owns 1,516,211 shares of the conglomerate’s stock valued at $166,207,000 after buying an additional 264,565 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

United Technologies Corporation (NYSE UTX) traded down 0.53% on Friday, reaching $115.48. 2,760,448 shares of the company’s stock were exchanged. The stock has a market capitalization of $92.24 billion, a PE ratio of 17.59 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. The firm has a 50 day moving average of $120.41 and a 200 day moving average of $117.13.

United Technologies Corporation (NYSE:UTX) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. United Technologies Corporation’s revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

The business also recently announced 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. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.42%. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s payout ratio is 42.68%.

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Several equities analysts recently commented on UTX shares. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of United Technologies Corporation in a research report on Thursday, April 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $132.00 price target (up previously from $126.00) on shares of United Technologies Corporation in a research report on Thursday, April 27th. Deutsche Bank AG upped their price target on shares of United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Morgan Stanley upped their price target on shares of United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Finally, Vetr raised shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company 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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