Canandaigua National Bank & Trust Co. lessened its stake in United Technologies Co. (NYSE:UTX) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 101,775 shares of the conglomerate’s stock after selling 5,525 shares during the quarter. United Technologies accounts for about 2.5% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 5th largest holding. Canandaigua National Bank & Trust Co.’s holdings in United Technologies were worth $14,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Credit Agricole S A increased its stake in shares of United Technologies by 101.4% in the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after purchasing an additional 436 shares in the last quarter. Jolley Asset Management LLC purchased a new position in shares of United Technologies in the 2nd quarter valued at about $114,000. Fort L.P. purchased a new position in shares of United Technologies in the 2nd quarter valued at about $120,000. WP Advisors LLC purchased a new position in shares of United Technologies in the 2nd quarter valued at about $126,000. Finally, Kiley Juergens Wealth Management LLC purchased a new position in shares of United Technologies in the 2nd quarter valued at about $127,000. 81.64% of the stock is owned by institutional investors and hedge funds.

NYSE:UTX opened at $130.71 on Friday. United Technologies Co. has a 12 month low of $115.40 and a 12 month high of $144.15. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. The company has a market cap of $104.57 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.98 and a beta of 1.09.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.11. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The company had revenue of $16.51 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the previous year, the business earned $1.73 EPS. United Technologies’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast that United Technologies Co. will post 7.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.735 per share. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, November 15th. United Technologies’s payout ratio is 42.11%.

Several brokerages recently weighed in on UTX. UBS Group began coverage on United Technologies in a research note on Wednesday, August 15th. They issued a “buy” rating for the company. Royal Bank of Canada cut their price target on United Technologies to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. Finally, Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $151.90.

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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.

See Also: Cost of Capital

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

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