Texas Yale Capital Corp. cut its position in shares of United Technologies Corporation (NYSE:UTX) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,493 shares of the conglomerate’s stock after selling 250 shares during the period. Texas Yale Capital Corp.’s holdings in United Technologies Corporation were worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tortoise Investment Management LLC raised its position in United Technologies Corporation by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after purchasing an additional 48 shares in the last quarter. Seven Bridges Advisors LLC bought a new position in shares of United Technologies Corporation in the 2nd quarter worth $120,000. Riggs Asset Managment Co. Inc. raised its position in shares of United Technologies Corporation by 14.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after acquiring an additional 125 shares in the last quarter. Winfield Associates Inc. raised its position in shares of United Technologies Corporation by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after acquiring an additional 29 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of United Technologies Corporation in the 2nd quarter worth $131,000. 78.87% of the stock is owned by institutional investors and hedge funds.

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

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio is presently 43.41%.

UTX has been the subject of several recent research reports. Zacks Investment Research lowered United Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Cowen and Company lowered United Technologies Corporation from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $127.00 to $120.00 in a research report on Wednesday, September 6th. Bank of America Corporation reissued a “buy” rating and issued a $140.00 price target on shares of United Technologies Corporation in a research report on Wednesday, September 6th. Jefferies Group LLC reissued a “buy” rating and issued a $139.00 price target on shares of United Technologies Corporation in a research report on Tuesday, August 29th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $136.00 price target on shares of United Technologies Corporation in a research report on Wednesday, July 26th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $125.15.

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United Technologies Corporation 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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