Gamco Investors INC. ET AL Has $5.08 Million Stock Position in United Technologies Co. (NYSE:UTX)

Gamco Investors INC. ET AL lowered its stake in shares of United Technologies Co. (NYSE:UTX) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,203 shares of the conglomerate’s stock after selling 940 shares during the period. Gamco Investors INC. ET AL’s holdings in United Technologies were worth $5,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in United Technologies by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 68,834,966 shares of the conglomerate’s stock worth $8,962,313,000 after purchasing an additional 777,327 shares in the last quarter. Morgan Stanley grew its position in United Technologies by 2.0% in the 2nd quarter. Morgan Stanley now owns 11,814,971 shares of the conglomerate’s stock worth $1,538,310,000 after purchasing an additional 231,073 shares in the last quarter. Fisher Asset Management LLC grew its position in United Technologies by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 4,727,841 shares of the conglomerate’s stock worth $645,445,000 after purchasing an additional 117,400 shares in the last quarter. Jensen Investment Management Inc. grew its position in United Technologies by 24.7% in the 2nd quarter. Jensen Investment Management Inc. now owns 3,968,549 shares of the conglomerate’s stock worth $516,705,000 after purchasing an additional 785,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in United Technologies by 3.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,913,669 shares of the conglomerate’s stock worth $509,560,000 after purchasing an additional 128,576 shares in the last quarter. Hedge funds and other institutional investors own 80.62% of the company’s stock.

A number of equities research analysts have issued reports on UTX shares. JPMorgan Chase & Co. upped their price objective on shares of United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a research report on Friday, July 19th. Credit Suisse Group set a $162.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Cowen reaffirmed a “buy” rating and issued a $150.00 price objective on shares of United Technologies in a research report on Wednesday, September 4th. Finally, Barclays upped their price objective on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. United Technologies presently has an average rating of “Buy” and a consensus target price of $154.69.

United Technologies stock opened at $148.88 on Friday. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $149.35. The firm has a 50 day moving average price of $138.67 and a 200-day moving average price of $133.63. The company has a market capitalization of $127.63 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.07 and a beta of 1.22. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.31 billion. During the same period in the prior year, the firm earned $1.93 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. Equities analysts expect that United Technologies Co. will post 8.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, November 14th. United Technologies’s dividend payout ratio is currently 38.63%.

In related news, VP Robert J. Bailey sold 1,299 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total transaction of $193,771.83. Following the sale, the vice president now directly owns 2,600 shares in the company, valued at approximately $387,842. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Charles D. Gill sold 33,763 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $135.04, for a total transaction of $4,559,355.52. Following the sale, the vice president now owns 112,458 shares in the company, valued at $15,186,328.32. The disclosure for this sale can be found here. Insiders have sold a total of 185,306 shares of company stock valued at $25,914,056 over the last three months. Insiders own 0.15% of the company’s stock.

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.

Featured Article: What is the QQQ ETF?

Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).

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

Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.