United Technologies Corporation (NYSE:UTX) Stake Boosted by Cwm LLC

CWM LLC raised its stake in shares of United Technologies Corporation (NYSE:UTX) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,397 shares of the conglomerate’s stock after buying an additional 210 shares during the period. CWM LLC’s holdings in United Technologies Corporation were worth $171,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of United Technologies Corporation during the fourth quarter worth about $740,872,000. Putnam Investments LLC increased its stake in shares of United Technologies Corporation by 248.3% in the fourth quarter. Putnam Investments LLC now owns 1,385,091 shares of the conglomerate’s stock worth $151,834,000 after buying an additional 987,378 shares during the period. Swiss National Bank increased its stake in shares of United Technologies Corporation by 25.2% in the first quarter. Swiss National Bank now owns 2,771,721 shares of the conglomerate’s stock worth $311,015,000 after buying an additional 557,300 shares during the period. Viking Global Investors LP acquired a new stake in shares of United Technologies Corporation during the fourth quarter worth about $59,353,000. Finally, American Century Companies Inc. increased its stake in shares of United Technologies Corporation by 15.8% in the first quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock worth $384,887,000 after buying an additional 468,515 shares during the period. 78.69% of the stock is owned by institutional investors.

United Technologies Corporation (NYSE:UTX) traded down 0.53% during trading on Friday, hitting $115.48. 2,760,448 shares of the stock traded hands. The firm has a 50-day moving average price of $120.58 and a 200 day moving average price of $117.09. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The firm has a market cap of $92.24 billion, a PE ratio of 17.59 and a beta of 1.06.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The company had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.42%. The ex-dividend date is Wednesday, August 16th. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s payout ratio is 42.68%.

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A number of equities research analysts recently issued reports on the company. BidaskClub upgraded United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Jefferies Group LLC reissued a “buy” rating and issued a $132.00 target price (up previously from $126.00) on shares of United Technologies Corporation in a research note on Thursday, April 27th. Royal Bank Of Canada reissued a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a research note on Friday, June 2nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $135.00 target price (up previously from $130.00) on shares of United Technologies Corporation in a research note on Friday, July 21st. Finally, Deutsche Bank AG increased their target price on United Technologies Corporation from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $123.54.

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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