United Technologies Co. (UTX) Stake Raised by Dorsey & Whitney Trust CO LLC

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Dorsey & Whitney Trust CO LLC lifted its holdings in shares of United Technologies Co. (NYSE:UTX) by 35.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,122 shares of the conglomerate’s stock after purchasing an additional 2,404 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in United Technologies were worth $1,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of United Technologies by 10.6% during the first quarter. Principal Financial Group Inc. now owns 1,317,730 shares of the conglomerate’s stock worth $165,797,000 after buying an additional 126,621 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in shares of United Technologies by 16.5% during the first quarter. Summit Trail Advisors LLC now owns 5,258 shares of the conglomerate’s stock worth $415,000 after buying an additional 744 shares during the last quarter. Neville Rodie & Shaw Inc. purchased a new position in shares of United Technologies during the second quarter worth about $9,740,000. Cibc Bank USA purchased a new position in shares of United Technologies during the second quarter worth about $772,000. Finally, CenturyLink Investment Management Co purchased a new position in shares of United Technologies during the second quarter worth about $1,838,000. Institutional investors own 81.84% of the company’s stock.

Shares of NYSE:UTX opened at $122.62 on Wednesday. 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 capitalization of $98.60 billion, a P/E ratio of 18.44, a PEG ratio of 1.87 and a beta of 0.98. United Technologies Co. has a 52 week low of $115.40 and a 52 week high of $144.15.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.11. The firm had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 earnings per share. On average, sell-side analysts anticipate that United Technologies Co. will post 7.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a $0.735 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.40%. This is an increase from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is presently 42.11%.

A number of equities analysts recently issued reports on the company. UBS Group assumed coverage on United Technologies in a report on Wednesday, August 15th. They set a “buy” rating on the stock. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. Royal Bank of Canada lowered their price target on United Technologies to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. Finally, Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. United Technologies currently has an average rating of “Buy” and an average price target of $151.90.

United Technologies 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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