Comerica Securities Inc. Increases Holdings in United Technologies Corporation (UTX)

Comerica Securities Inc. raised its stake in United Technologies Corporation (NYSE:UTX) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,686 shares of the conglomerate’s stock after buying an additional 1,388 shares during the quarter. Comerica Securities Inc.’s holdings in United Technologies were worth $2,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in UTX. Harbour Capital Advisors LLC raised its holdings in shares of United Technologies by 11,652.2% in the second quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after purchasing an additional 2,109,056 shares during the last quarter. Flossbach Von Storch AG raised its holdings in shares of United Technologies by 95.6% in the second quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock valued at $197,453,000 after purchasing an additional 790,496 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of United Technologies by 1,606.6% in the second quarter. Schroder Investment Management Group now owns 592,583 shares of the conglomerate’s stock valued at $72,088,000 after purchasing an additional 557,859 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of United Technologies by 288.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 588,005 shares of the conglomerate’s stock valued at $60,300,000 after purchasing an additional 436,509 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of United Technologies by 14.8% in the second quarter. Fiera Capital Corp now owns 3,013,096 shares of the conglomerate’s stock valued at $367,929,000 after purchasing an additional 388,467 shares during the last quarter. 80.20% of the stock is currently owned by hedge funds and other institutional investors.

In other United Technologies news, VP Robert J. Bailey sold 827 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of 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. Over the last quarter, insiders sold 9,792 shares of company stock worth $1,182,520. Corporate insiders own 0.16% of the company’s stock.

A number of analysts have recently issued reports on the stock. Cowen reiterated a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a report on Tuesday, October 24th. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday. Stifel Nicolaus lifted their price objective on shares of United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $126.00 target price on shares of United Technologies in a report on Tuesday, October 10th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. United Technologies currently has an average rating of “Hold” and a consensus target price of $125.15.

Shares of United Technologies Corporation (NYSE:UTX) traded up $0.91 on Thursday, reaching $121.20. 2,607,400 shares of the company were exchanged, compared to its average volume of 3,036,120. The firm has a market capitalization of $96,059.98, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.07. United Technologies Corporation has a fifty-two week low of $106.85 and a fifty-two week high of $124.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31.

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

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.31%. United Technologies’s dividend payout ratio is currently 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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