Cetera Advisors LLC Lowers Position in United Technologies Co. (NYSE:UTX)

Cetera Advisors LLC cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,178 shares of the conglomerate’s stock after selling 506 shares during the quarter. Cetera Advisors LLC’s holdings in United Technologies were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UTX. Neville Rodie & Shaw Inc. lifted its position in United Technologies by 0.9% during the second quarter. Neville Rodie & Shaw Inc. now owns 77,083 shares of the conglomerate’s stock valued at $10,036,000 after purchasing an additional 703 shares during the last quarter. Cacti Asset Management LLC lifted its position in United Technologies by 7.3% during the second quarter. Cacti Asset Management LLC now owns 164,324 shares of the conglomerate’s stock valued at $21,193,000 after purchasing an additional 11,126 shares during the last quarter. Private Trust Co. NA lifted its position in United Technologies by 5.9% during the second quarter. Private Trust Co. NA now owns 12,401 shares of the conglomerate’s stock valued at $1,614,000 after purchasing an additional 689 shares during the last quarter. Rockland Trust Co. lifted its position in United Technologies by 0.8% during the second quarter. Rockland Trust Co. now owns 101,385 shares of the conglomerate’s stock valued at $13,200,000 after purchasing an additional 801 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in United Technologies by 5.7% during the second quarter. DNB Asset Management AS now owns 166,812 shares of the conglomerate’s stock valued at $21,719,000 after purchasing an additional 8,934 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

In other news, VP Robert J. Bailey sold 831 shares of United Technologies stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.09, for a total transaction of $112,259.79. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at $270,180. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 1,299 shares of United Technologies stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $149.17, for a total value of $193,771.83. Following the sale, the vice president now owns 2,600 shares of the company’s stock, valued at $387,842. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,306 shares of company stock valued at $25,914,056. Corporate insiders own 0.15% of the company’s stock.

Several brokerages have issued reports on UTX. William Blair reiterated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Zacks Investment Research lowered shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price for the company. in a report on Friday, July 19th. Credit Suisse Group set a $162.00 target price on shares of United Technologies and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays raised their price target on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $154.69.

Shares of UTX opened at $148.11 on Friday. The company has a market cap of $127.95 billion, a PE ratio of 19.46, a P/E/G ratio of 2.07 and a beta of 1.22. The business has a fifty day moving average of $139.96 and a 200 day moving average of $133.88. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $149.35. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.18. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. United Technologies’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $1.93 earnings per share. As a group, research analysts anticipate that United Technologies Co. will post 8.13 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.94 annualized dividend and a dividend yield of 1.99%. United Technologies’s dividend payout ratio (DPR) is 38.63%.

United Technologies Company Profile

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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