Regent Investment Management LLC trimmed its holdings in shares of United Technologies Co. (NYSE:UTX) by 14.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,645 shares of the conglomerate’s stock after selling 1,125 shares during the quarter. Regent Investment Management LLC’s holdings in United Technologies were worth $865,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massey Quick Simon & CO. LLC bought a new position in shares of United Technologies during the 1st quarter worth approximately $47,000. Sageworth Trust Co bought a new position in shares of United Technologies during the 1st quarter worth approximately $50,000. Canton Hathaway LLC grew its stake in shares of United Technologies by 625.5% during the 1st quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 344 shares in the last quarter. Murphy Pohlad Asset Management LLC bought a new position in shares of United Technologies during the 4th quarter worth approximately $56,000. Finally, Claybrook Capital LLC bought a new position in shares of United Technologies during the 4th quarter worth approximately $56,000. 80.79% of the stock is owned by institutional investors and hedge funds.

Shares of UTX traded up $0.29 during midday trading on Monday, reaching $135.92. 88,265 shares of the stock were exchanged, compared to its average volume of 3,142,600. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.40. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $116.95 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.93 and a beta of 1.23. The firm has a 50 day moving average of $130.48.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The company had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter last year, the firm earned $1.97 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. Research analysts expect that United Technologies Co. will post 8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio is currently 38.63%.

UTX has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Royal Bank of Canada set a GBX 5,200 ($67.95) price target on London Stock Exchange Group and gave the company a “buy” rating in a report on Wednesday, April 24th. Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Friday, June 14th. Cowen reaffirmed a “hold” rating and set a $13.00 price target on shares of AMAG Pharmaceuticals in a report on Monday, June 24th. Finally, Bank of America downgraded TAL Education Group from a “buy” rating to a “neutral” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. United Technologies has a consensus rating of “Buy” and an average target price of $152.21.

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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