Machina Capital S.A.S. lifted its position in shares of United Technologies Co. (NYSE:UTX) by 208.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,798 shares of the conglomerate’s stock after purchasing an additional 8,650 shares during the period. United Technologies accounts for 0.8% of Machina Capital S.A.S.’s portfolio, making the stock its 17th largest holding. Machina Capital S.A.S.’s holdings in United Technologies were worth $1,917,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its position in shares of United Technologies by 10.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 55,105 shares of the conglomerate’s stock worth $7,523,000 after buying an additional 5,406 shares during the period. Park Avenue Securities LLC acquired a new position in shares of United Technologies during the third quarter worth approximately $569,000. Bailard Inc. boosted its position in shares of United Technologies by 3.8% during the third quarter. Bailard Inc. now owns 11,181 shares of the conglomerate’s stock worth $1,526,000 after buying an additional 413 shares during the period. Coastline Trust Co boosted its position in shares of United Technologies by 2.8% during the third quarter. Coastline Trust Co now owns 17,146 shares of the conglomerate’s stock worth $2,341,000 after buying an additional 464 shares during the period. Finally, Strs Ohio boosted its position in shares of United Technologies by 48.8% during the third quarter. Strs Ohio now owns 814,412 shares of the conglomerate’s stock worth $111,183,000 after buying an additional 267,174 shares during the period. Institutional investors own 80.49% of the company’s stock.
Several brokerages have recently issued reports on UTX. Benchmark began coverage on United Technologies in a research report on Friday, January 31st. They set a “buy” rating and a $186.00 price objective for the company. Argus reiterated a “buy” rating and set a $170.00 price objective on shares of United Technologies in a research report on Wednesday, January 29th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 28th. Credit Suisse Group boosted their price objective on United Technologies from $174.00 to $176.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Cowen began coverage on United Technologies in a research report on Tuesday, January 28th. They set a “buy” rating and a $169.00 price objective for the company. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $164.53.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. The firm had revenue of $19.55 billion during the quarter, compared to the consensus estimate of $19.34 billion. United Technologies had a return on equity of 16.60% and a net margin of 7.19%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 earnings per share. On average, research analysts forecast that United Technologies Co. will post 8.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 14th will be given a $0.735 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.94 dividend on an annualized basis and a yield of 1.94%. United Technologies’s dividend payout ratio (DPR) is 35.59%.
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.
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