United Technologies Co. (UTX) Shares Sold by Charter Trust Co.

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Charter Trust Co. cut its stake in shares of United Technologies Co. (NYSE:UTX) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,363 shares of the conglomerate’s stock after selling 505 shares during the quarter. Charter Trust Co.’s holdings in United Technologies were worth $3,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CapWealth Advisors LLC raised its position in shares of United Technologies by 6.5% in the third quarter. CapWealth Advisors LLC now owns 71,725 shares of the conglomerate’s stock worth $10,028,000 after acquiring an additional 4,380 shares during the period. Evercore Wealth Management LLC raised its position in shares of United Technologies by 1.6% in the third quarter. Evercore Wealth Management LLC now owns 111,737 shares of the conglomerate’s stock worth $15,621,000 after acquiring an additional 1,794 shares during the period. Darrell & King LLC raised its position in shares of United Technologies by 1.1% in the third quarter. Darrell & King LLC now owns 269,212 shares of the conglomerate’s stock worth $37,639,000 after acquiring an additional 2,839 shares during the period. Epoch Investment Partners Inc. raised its position in shares of United Technologies by 31.3% in the third quarter. Epoch Investment Partners Inc. now owns 1,693,656 shares of the conglomerate’s stock worth $236,790,000 after acquiring an additional 403,940 shares during the period. Finally, WEALTHFRONT Corp raised its position in shares of United Technologies by 6.8% in the third quarter. WEALTHFRONT Corp now owns 18,798 shares of the conglomerate’s stock worth $2,628,000 after acquiring an additional 1,197 shares during the period. 82.10% of the stock is currently owned by hedge funds and other institutional investors.

UTX opened at $119.45 on Friday. United Technologies Co. has a twelve month low of $115.40 and a twelve month 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. The stock has a market cap of $96.81 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.84 and a beta of 1.07.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, topping the 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 firm had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that United Technologies Co. will post 7.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, November 15th. This is an increase from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio is 44.21%.

A number of brokerages have weighed in on UTX. Cowen reiterated a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a research report on Thursday. Robert W. Baird decreased their price objective on shares of United Technologies from $167.00 to $149.00 and set an “outperform” rating for the company in a research report on Wednesday, November 28th. Bank of America set a $180.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a research report on Tuesday, November 27th. UBS Group upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Finally, Jefferies Financial Group set a $148.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. United Technologies has a consensus rating of “Buy” and an average target price of $151.58.

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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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