Flippin Bruce & Porter Inc. Has $9.63 Million Holdings in United Technologies Corporation (UTX)

Flippin Bruce & Porter Inc. raised its stake in United Technologies Corporation (NYSE:UTX) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,869 shares of the conglomerate’s stock after acquiring an additional 1,132 shares during the period. United Technologies Corporation accounts for approximately 2.2% of Flippin Bruce & Porter Inc.’s portfolio, making the stock its 10th largest position. Flippin Bruce & Porter Inc.’s holdings in United Technologies Corporation were worth $9,631,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Alexandria Capital LLC boosted its stake in United Technologies Corporation by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in United Technologies Corporation by 0.3% in the first quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock valued at $281,000 after acquiring an additional 7 shares in the last quarter. Kissinger Financial Services LLC boosted its stake in United Technologies Corporation by 0.5% in the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock valued at $256,000 after acquiring an additional 11 shares in the last quarter. Baystate Wealth Management LLC boosted its stake in United Technologies Corporation by 0.5% in the second quarter. Baystate Wealth Management LLC now owns 2,262 shares of the conglomerate’s stock valued at $279,000 after acquiring an additional 11 shares in the last quarter. Finally, Vigilant Capital Management LLC boosted its stake in United Technologies Corporation by 0.7% in the second quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock valued at $231,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

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

United Technologies Corporation (NYSE UTX) opened at $117.89 on Friday. The stock has a market cap of $94,140.00, a PE ratio of 17.95, a P/E/G ratio of 2.14 and a beta of 1.07. United Technologies Corporation has a 1-year low of $106.21 and a 1-year high of $124.79. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.05. The firm had revenue of $15.06 billion during 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 firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.76 earnings per share. analysts predict that United Technologies Corporation will post 6.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.38%. United Technologies Corporation’s dividend payout ratio is currently 43.34%.

Several equities analysts have issued reports on the stock. Cowen and Company restated a “buy” rating and issued a $127.00 price objective on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Sanford C. Bernstein restated a “market perform” rating and issued a $135.00 price objective (up previously from $130.00) on shares of United Technologies Corporation in a research note on Friday, July 21st. BidaskClub upgraded shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Credit Suisse Group restated a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Finally, Stifel Nicolaus upped their price objective on shares of United Technologies Corporation from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $125.15.

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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.

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

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