Prudential Financial Inc. cut its holdings in United Technologies Co. (NYSE:UTX) by 0.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,120,745 shares of the conglomerate’s stock after selling 6,960 shares during the period. Prudential Financial Inc.’s holdings in United Technologies were worth $130,096,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Atlantic Trust Group LLC grew its holdings in shares of United Technologies by 3.4% during the third quarter. Atlantic Trust Group LLC now owns 1,135,814 shares of the conglomerate’s stock worth $131,846,000 after purchasing an additional 36,832 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of United Technologies by 2.0% during the third quarter. Parametric Portfolio Associates LLC now owns 2,224,741 shares of the conglomerate’s stock worth $258,248,000 after purchasing an additional 44,123 shares during the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of United Technologies by 0.3% during the third quarter. Burgundy Asset Management Ltd. now owns 3,455,766 shares of the conglomerate’s stock worth $401,145,000 after purchasing an additional 10,893 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of United Technologies by 20.7% during the third quarter. Chicago Partners Investment Group LLC now owns 7,579 shares of the conglomerate’s stock worth $880,000 after purchasing an additional 1,301 shares during the last quarter. Finally, Institutional & Family Asset Management LLC grew its holdings in shares of United Technologies by 1.5% during the third quarter. Institutional & Family Asset Management LLC now owns 39,751 shares of the conglomerate’s stock worth $4,614,000 after purchasing an additional 599 shares during the last quarter. Institutional investors own 80.01% of the company’s stock.

In related news, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $252,020. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,480 shares of company stock worth $1,658,028. Corporate insiders own 0.16% of the company’s stock.

UTX has been the topic of several research reports. Stifel Nicolaus raised their price objective on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Goldman Sachs Group raised United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Zacks Investment Research lowered United Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $136.15.

United Technologies Co. (UTX) opened at $125.03 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80. United Technologies Co. has a twelve month low of $107.05 and a twelve month high of $139.24. The stock has a market capitalization of $99,850.00, a PE ratio of 21.94, a P/E/G ratio of 2.12 and a beta of 1.08.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same quarter last year, the company posted $1.56 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. analysts expect that United Technologies Co. will post 7.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 16th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio is currently 49.12%.

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United Technologies 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 (NYSE:UTX)

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