United Technologies Co. (UTX) Position Cut by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its position in shares of United Technologies Co. (NYSE:UTX) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,298,395 shares of the conglomerate’s stock after selling 115,261 shares during the quarter. United Technologies makes up approximately 2.3% of Diamond Hill Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Diamond Hill Capital Management Inc. owned approximately 0.41% of United Technologies worth $461,149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Credit Agricole S A raised its stake in United Technologies by 101.4% during the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after purchasing an additional 436 shares during the period. Psagot Investment House Ltd. purchased a new position in United Technologies during the third quarter worth approximately $134,000. Fort L.P. purchased a new position in United Technologies during the second quarter worth approximately $120,000. Adalta Capital Management LLC purchased a new position in United Technologies during the second quarter worth approximately $163,000. Finally, Kiley Juergens Wealth Management LLC raised its stake in United Technologies by 42.6% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,453 shares of the conglomerate’s stock worth $203,000 after purchasing an additional 434 shares during the period. Hedge funds and other institutional investors own 82.16% of the company’s stock.

UTX has been the topic of a number of research reports. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a research note on Thursday, October 4th. Royal Bank of Canada cut their target price on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. ValuEngine downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. UBS Group initiated coverage on shares of United Technologies in a research note on Wednesday, August 15th. They issued a “buy” rating on the stock. Finally, Robert W. Baird raised their target price on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, September 20th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $151.58.

Shares of UTX stock opened at $121.84 on Monday. United Technologies Co. has a 52 week low of $115.40 and a 52 week high of $144.15. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $97.59 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.85 and a beta of 1.09.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The business had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter last year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts expect that United Technologies Co. will post 7.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a dividend of $0.735 per share. This is an increase from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. This represents a $2.94 annualized dividend and a yield of 2.41%. United Technologies’s payout ratio is 44.21%.

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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.

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

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