Today, Monarch Capital Management Inc. Cuts Position in United Technologies Corp. (UTX)

Today, Monarch Capital Management Inc. Cuts Position in United Technologies Corp. (UTX)

Monarch Capital Management Inc. lowered its stake in shares of United Technologies Corp. (NYSE:UTX) by 8.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 46,056 shares of the company’s stock after selling 4,463 shares during the period. United Technologies Corp. makes up approximately 1.8% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Monarch Capital Management Inc.’s holdings in United Technologies Corp. were worth $4,679,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of United Technologies Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 51,710,590 shares of the company’s stock valued at $5,302,921,000 after buying an additional 2,049,777 shares in the last quarter. FMR LLC boosted its stake in shares of United Technologies Corp. by 2.6% in the second quarter. FMR LLC now owns 21,986,379 shares of the company’s stock valued at $2,254,702,000 after buying an additional 549,366 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of United Technologies Corp. by 1.3% in the second quarter. BlackRock Fund Advisors now owns 9,496,025 shares of the company’s stock valued at $973,817,000 after buying an additional 120,134 shares in the last quarter. Davis Selected Advisers boosted its stake in shares of United Technologies Corp. by 4.8% in the second quarter. Davis Selected Advisers now owns 9,300,803 shares of the company’s stock valued at $953,797,000 after buying an additional 421,896 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of United Technologies Corp. by 24.3% in the second quarter. Alliancebernstein L.P. now owns 8,627,389 shares of the company’s stock valued at $884,739,000 after buying an additional 1,688,688 shares in the last quarter. Hedge funds and other institutional investors own 80.67% of the company’s stock.

United Technologies Corp. (NYSE:UTX) traded up 0.62% during trading on Friday, reaching $108.78. The company’s stock had a trading volume of 1,008,723 shares. The firm’s 50-day moving average price is $102.93 and its 200 day moving average price is $103.44. United Technologies Corp. has a 12-month low of $83.39 and a 12-month high of $109.83. The company has a market capitalization of $89.57 billion, a P/E ratio of 12.43 and a beta of 1.10.

United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. The company had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $12.28 billion. United Technologies Corp. had a return on equity of 18.28% and a net margin of 12.87%. United Technologies Corp.’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 earnings per share. On average, analysts predict that United Technologies Corp. will post $6.60 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be given a dividend of $0.66 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.64 dividend on an annualized basis and a yield of 2.43%. United Technologies Corp.’s dividend payout ratio is currently 30.28%.

Several research analysts recently weighed in on the stock. Wells Fargo & Co. restated a “buy” rating on shares of United Technologies Corp. in a research report on Monday, November 14th. Vetr cut shares of United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 price objective on the stock. in a research report on Monday, November 7th. Stifel Nicolaus restated a “hold” rating on shares of United Technologies Corp. in a research report on Wednesday, October 26th. Zacks Investment Research upgraded shares of United Technologies Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 26th. Finally, Citigroup Inc. cut shares of United Technologies Corp. from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $99.20 to $100.58 in a research report on Monday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $109.80.

In other United Technologies Corp. news, VP Robert J. Bailey sold 967 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $106.46, for a total transaction of $102,946.82. Following the transaction, the vice president now owns 2,000 shares in the company, valued at $212,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

About United Technologies Corp.

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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.

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