Camden National Bank decreased its stake in United Technologies Corporation (NYSE:UTX) by 4.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 59,224 shares of the conglomerate’s stock after selling 2,672 shares during the period. United Technologies Corporation accounts for approximately 2.0% of Camden National Bank’s holdings, making the stock its 28th largest position. Camden National Bank’s holdings in United Technologies Corporation were worth $6,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its position in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares in the last quarter. Alexandria Capital LLC boosted its position in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares in the last quarter. MCF Advisors LLC boosted its position in shares of United Technologies Corporation by 22.4% in the first quarter. MCF Advisors LLC now owns 1,550 shares of the conglomerate’s stock valued at $174,000 after buying an additional 284 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in shares of United Technologies Corporation by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 1,780 shares of the conglomerate’s stock valued at $200,000 after buying an additional 9 shares in the last quarter. Finally, American National Bank boosted its position in shares of United Technologies Corporation by 154.5% in the first quarter. American National Bank now owns 1,845 shares of the conglomerate’s stock valued at $207,000 after buying an additional 1,120 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Shares of United Technologies Corporation (UTX) traded down 0.20% during mid-day trading on Friday, reaching $115.07. 2,246,101 shares of the company’s stock traded hands. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The company has a market cap of $91.91 billion, a P/E ratio of 17.53 and a beta of 1.06. The company’s 50 day moving average is $119.55 and its 200 day moving average is $117.36.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the 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 period in the previous year, the firm earned $1.82 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts predict that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 2.43%. United Technologies Corporation’s payout ratio is currently 42.68%.

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A number of research analysts recently weighed in on UTX shares. Royal Bank Of Canada restated a “hold” rating and set a $125.00 target price on shares of United Technologies Corporation in a research note on Sunday, August 13th. BidaskClub cut shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research note on Tuesday, May 16th. Stifel Nicolaus restated a “hold” rating and set a $126.00 target price on shares of United Technologies Corporation in a research note on Friday, July 7th. Finally, Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a research note on Wednesday, May 31st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $123.54.

United Technologies Corporation Company Profile

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 Corporation (NYSE:UTX)

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