Jones Financial Companies Lllp Reduces Stake in United Technologies Co. (UTX)

Jones Financial Companies Lllp lowered its stake in United Technologies Co. (NYSE:UTX) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,663 shares of the conglomerate’s stock after selling 1,384 shares during the period. Jones Financial Companies Lllp’s holdings in United Technologies were worth $13,235,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of UTX. Charles Schwab Investment Advisory Inc. bought a new position in shares of United Technologies in the second quarter worth $341,297,000. Boston Partners increased its position 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 purchasing an additional 1,349,539 shares during the period. Epoch Investment Partners Inc. increased its position 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 purchasing an additional 1,104,849 shares during the period. Mainstay Capital Management LLC ADV increased its position 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 purchasing an additional 976,562 shares during the period. Finally, FMR LLC increased its position in shares of United Technologies by 2.7% in the second quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock worth $3,308,428,000 after purchasing an additional 707,417 shares during the period. Institutional investors own 82.16% of the company’s stock.

United Technologies stock opened at $129.04 on Friday. United Technologies Co. has a 12-month low of $115.40 and a 12-month high of $144.15. 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 capitalization of $100.69 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.11. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The firm had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the previous year, the business posted $1.73 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts anticipate that United Technologies Co. will post 7.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, November 15th. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s payout ratio is currently 44.21%.

A number of research analysts recently commented on the company. UBS Group assumed coverage on United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a research report on Thursday, October 4th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada decreased their price target on United Technologies to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. Finally, Robert W. Baird raised their price target on United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $151.90.

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United Technologies Company 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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