CapWealth Advisors LLC Grows Stake in United Technologies Co. (UTX)

CapWealth Advisors LLC lifted its position in United Technologies Co. (NYSE:UTX) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,725 shares of the conglomerate’s stock after buying an additional 4,380 shares during the period. United Technologies makes up about 1.6% of CapWealth Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. CapWealth Advisors LLC’s holdings in United Technologies were worth $10,028,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in United Technologies by 0.7% in the 3rd quarter. BlackRock Inc. now owns 47,687,427 shares of the conglomerate’s stock worth $6,667,179,000 after purchasing an additional 347,202 shares during the period. FMR LLC raised its holdings in United Technologies by 1.4% in the 3rd quarter. FMR LLC now owns 26,833,527 shares of the conglomerate’s stock worth $3,751,597,000 after purchasing an additional 372,456 shares during the period. Third Point LLC raised its holdings in United Technologies by 10.5% in the 3rd quarter. Third Point LLC now owns 8,400,000 shares of the conglomerate’s stock worth $1,174,404,000 after purchasing an additional 800,000 shares during the period. Boston Partners raised its holdings in United Technologies by 25.0% in the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock worth $844,240,000 after purchasing an additional 1,349,539 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in United Technologies by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 4,194,261 shares of the conglomerate’s stock worth $586,400,000 after purchasing an additional 107,596 shares during the period. Hedge funds and other institutional investors own 82.10% of the company’s stock.

A number of equities analysts recently commented on the company. UBS Group assumed coverage on United Technologies in a report on Wednesday, August 15th. They issued a “buy” rating on the stock. Robert W. Baird decreased their target price on United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a report on Wednesday, November 28th. Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a report on Thursday, October 4th. Bank of America set a $180.00 target price on United Technologies and gave the stock a “buy” rating in a report on Tuesday, November 27th. Finally, Jefferies Financial Group set a $148.00 target price on United Technologies and gave the stock a “buy” rating in a report on Tuesday, November 27th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $151.58.

NYSE:UTX opened at $119.45 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12. The stock has a market cap of $96.81 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. United Technologies Co. has a 52 week low of $115.40 and a 52 week high of $144.15.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.11. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $16.10 billion. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. As a group, analysts predict that United Technologies Co. will post 7.18 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Thursday, November 15th. This is a boost from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 dividend on an annualized basis and a yield of 2.46%. United Technologies’s dividend payout ratio (DPR) is currently 44.21%.

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United Technologies Profile

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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