CORDA Investment Management LLC. Cuts Position in United Technologies Corporation (UTX)

CORDA Investment Management LLC. reduced its stake in United Technologies Corporation (NYSE:UTX) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,988 shares of the conglomerate’s stock after selling 1,575 shares during the quarter. United Technologies accounts for 2.5% of CORDA Investment Management LLC.’s portfolio, making the stock its 17th largest position. CORDA Investment Management LLC.’s holdings in United Technologies were worth $17,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tortoise Investment Management LLC lifted its position in United Technologies by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares in the last quarter. Seven Bridges Advisors LLC bought a new stake in United Technologies in the 2nd quarter valued at $120,000. Winfield Associates Inc. lifted its position in United Technologies by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after acquiring an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in United Technologies in the 2nd quarter valued at $131,000. Finally, Alexandria Capital LLC lifted its position in United Technologies by 0.3% in the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares in the last quarter. 80.19% of the stock is currently owned by institutional investors and hedge funds.

UTX has been the topic of several research reports. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Cowen reiterated a “buy” rating and issued a $127.00 price target on shares of United Technologies in a research note on Tuesday, September 5th. Credit Suisse Group reiterated a “neutral” rating on shares of United Technologies in a research note on Friday, September 1st. Jefferies Group reiterated a “buy” rating and issued a $139.00 price target on shares of United Technologies in a research note on Tuesday, August 29th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 price target on shares of United Technologies in a research note on Sunday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $125.15.

In other news, VP Robert J. Bailey sold 827 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares in the company, valued at $3,332,757.04. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Shares of United Technologies Corporation (NYSE UTX) traded down $1.33 during mid-day trading on Friday, reaching $120.12. 3,881,741 shares of the company’s stock traded hands, compared to its average volume of 2,522,972. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 12-month low of $106.85 and a 12-month high of $124.79. The firm has a market cap of $95,924.23, a price-to-earnings ratio of 18.15, a P/E/G ratio of 2.16 and a beta of 1.07.

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

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.33%. United Technologies’s dividend payout ratio is presently 43.41%.

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About United Technologies

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 (NYSE:UTX)

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