United Technologies Co. (UTX) Position Boosted by Welch Group LLC

Welch Group LLC boosted its position in shares of United Technologies Co. (NYSE:UTX) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,123 shares of the conglomerate’s stock after purchasing an additional 4,335 shares during the period. United Technologies comprises about 2.9% of Welch Group LLC’s investment portfolio, making the stock its 6th biggest position. Welch Group LLC’s holdings in United Technologies were worth $27,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in UTX. Charles Schwab Investment Advisory Inc. bought a new position in shares of United Technologies in the second quarter worth about $341,297,000. Boston Partners raised its stake in shares of United Technologies by 25.0% in the second quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock worth $844,240,000 after acquiring an additional 1,349,539 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of United Technologies by 597.6% in the second quarter. Epoch Investment Partners Inc. now owns 1,289,716 shares of the conglomerate’s stock worth $161,253,000 after acquiring an additional 1,104,849 shares during the last quarter. Mainstay Capital Management LLC ADV raised its stake in shares of United Technologies by 5,810.8% in the second quarter. Mainstay Capital Management LLC ADV now owns 993,368 shares of the conglomerate’s stock worth $8,864,000 after acquiring an additional 976,562 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of United Technologies in the second quarter worth about $113,560,000. 81.64% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:UTX opened at $131.34 on Friday. United Technologies Co. has a one year low of $115.40 and a one year high of $144.15. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. The company has a market cap of $102.48 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.94 and a beta of 1.09.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The company had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the previous year, the company earned $1.73 EPS. United Technologies’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that United Technologies Co. will post 7.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a dividend of $0.735 per share. This is a boost from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.24%. United Technologies’s payout ratio is currently 42.11%.

UTX has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a research note on Thursday, October 4th. ValuEngine downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. UBS Group initiated coverage on shares of United Technologies in a research note on Wednesday, August 15th. They issued a “buy” rating for the company. Robert W. Baird boosted their target price on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, September 20th. Finally, Royal Bank of Canada dropped their target price on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $151.90.

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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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