Canada Pension Plan Investment Board Sells 35,692 Shares of United Technologies Co. (UTX)

Canada Pension Plan Investment Board lessened its position in United Technologies Co. (NYSE:UTX) by 39.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,239 shares of the conglomerate’s stock after selling 35,692 shares during the period. Canada Pension Plan Investment Board’s holdings in United Technologies were worth $7,583,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. BTR Capital Management Inc. lifted its position in United Technologies by 0.4% during the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock worth $11,516,000 after buying an additional 375 shares in the last quarter. Ascension Asset Management LLC lifted its position in United Technologies by 2.6% during the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock worth $1,972,000 after buying an additional 400 shares in the last quarter. Elmwood Wealth Management Inc. lifted its position in United Technologies by 5.4% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock worth $1,085,000 after buying an additional 400 shares in the last quarter. Howe & Rusling Inc. lifted its position in United Technologies by 13.3% during the 3rd quarter. Howe & Rusling Inc. now owns 3,400 shares of the conglomerate’s stock worth $475,000 after buying an additional 400 shares in the last quarter. Finally, Pennsylvania Trust Co lifted its position in United Technologies by 0.4% during the 3rd quarter. Pennsylvania Trust Co now owns 103,636 shares of the conglomerate’s stock worth $14,489,000 after buying an additional 410 shares in the last quarter. Institutional investors own 82.10% of the company’s stock.

Several research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Robert W. Baird upped their price target on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. UBS Group assumed coverage on shares of United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. Finally, Wolfe Research set a $147.00 price target on shares of United Technologies and gave the stock a “buy” rating in a research report on Monday, November 26th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $151.58.

Shares of NYSE:UTX opened at $119.45 on Friday. The stock has a market cap of $96.81 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.84 and a beta of 1.07. United Technologies Co. has a 1-year low of $115.40 and a 1-year high of $144.15. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.11. The firm had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. As a group, sell-side analysts expect that United Technologies Co. will post 7.18 EPS 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 issued a dividend of $0.735 per share. This is a boost from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a yield of 2.46%. The ex-dividend date is Thursday, November 15th. United Technologies’s payout ratio is currently 44.21%.

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About United Technologies

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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