Brookstone Capital Management Lowers Position in United Technologies Corporation (UTX)

Brookstone Capital Management cut its holdings in United Technologies Corporation (NYSE:UTX) by 15.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,205 shares of the conglomerate’s stock after selling 412 shares during the quarter. Brookstone Capital Management’s holdings in United Technologies Corporation were worth $269,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Alexandria Capital LLC lifted its position in shares of United Technologies Corporation by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after buying an additional 3 shares during the last quarter. TCI Wealth Advisors Inc. lifted its position in shares of United Technologies Corporation by 0.3% during the first quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock valued at $281,000 after buying an additional 7 shares during the last quarter. Kissinger Financial Services LLC lifted its position in shares of United Technologies Corporation by 0.5% during the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock valued at $256,000 after buying an additional 11 shares during the last quarter. Baystate Wealth Management LLC lifted its position in shares of United Technologies Corporation by 0.5% during the second quarter. Baystate Wealth Management LLC now owns 2,262 shares of the conglomerate’s stock valued at $279,000 after buying an additional 11 shares during the last quarter. Finally, Vigilant Capital Management LLC lifted its position in shares of United Technologies Corporation by 0.7% during the second quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock valued at $231,000 after buying an additional 14 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

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UTX has been the subject of several analyst reports. Bank of America Corporation reissued a “buy” rating and set a $140.00 price target on shares of United Technologies Corporation in a research report on Wednesday, September 6th. Deutsche Bank AG decreased their price target on shares of United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Wednesday, September 6th. Vertical Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research report on Tuesday, September 5th. Cowen and Company lowered shares of United Technologies Corporation from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $127.00 to $120.00 in a research report on Wednesday, September 6th. Finally, Stifel Nicolaus increased their price target on shares of United Technologies Corporation from $122.00 to $124.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $125.15.

United Technologies Corporation (UTX) opened at $117.07 on Tuesday. United Technologies Corporation has a fifty-two week low of $106.21 and a fifty-two week high of $124.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91. The firm has a market cap of $94,319.09, a P/E ratio of 17.84, a P/E/G ratio of 2.13 and a beta of 1.07.

United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.76 EPS. analysts expect that United Technologies Corporation will post 6.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.39%. United Technologies Corporation’s payout ratio is 43.41%.

In other news, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

About United Technologies Corporation

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.

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

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