Envestnet Asset Management Inc. Increases Holdings in United Technologies Co. (NYSE:UTX)

Envestnet Asset Management Inc. boosted its stake in shares of United Technologies Co. (NYSE:UTX) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 611,097 shares of the conglomerate’s stock after buying an additional 33,707 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of United Technologies worth $83,427,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Sound View Wealth Advisors Group LLC bought a new stake in shares of United Technologies in the second quarter valued at about $2,049,000. Great Valley Advisor Group Inc. boosted its position in shares of United Technologies by 276.0% in the second quarter. Great Valley Advisor Group Inc. now owns 11,743 shares of the conglomerate’s stock valued at $1,526,000 after acquiring an additional 8,620 shares during the period. Farr Miller & Washington LLC DC boosted its position in shares of United Technologies by 0.5% in the second quarter. Farr Miller & Washington LLC DC now owns 383,785 shares of the conglomerate’s stock valued at $49,969,000 after acquiring an additional 2,017 shares during the period. BTR Capital Management Inc. boosted its position in shares of United Technologies by 1.6% in the second quarter. BTR Capital Management Inc. now owns 87,006 shares of the conglomerate’s stock valued at $11,328,000 after acquiring an additional 1,398 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of United Technologies by 50.3% in the second quarter. Captrust Financial Advisors now owns 58,174 shares of the conglomerate’s stock valued at $7,574,000 after acquiring an additional 19,474 shares during the period. Hedge funds and other institutional investors own 80.62% of the company’s stock.

Shares of NYSE:UTX traded up $0.15 during midday trading on Friday, hitting $148.88. 1,668,146 shares of the stock were exchanged, compared to its average volume of 3,289,642. The stock has a market capitalization of $127.63 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.07 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06. The business’s 50-day moving average price is $138.67 and its 200 day moving average price is $133.63. United Technologies Co. has a 12 month low of $100.48 and a 12 month high of $149.35.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.31 billion. During the same period in the prior year, the business posted $1.93 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts expect that United Technologies Co. will post 8.13 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, November 14th. United Technologies’s payout ratio is currently 38.63%.

A number of research analysts recently commented on the company. Credit Suisse Group set a $162.00 price target on United Technologies and gave the company a “buy” rating in a research note on Friday, October 25th. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target for the company. in a research note on Friday, July 19th. Sanford C. Bernstein boosted their price target on United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research note on Tuesday, September 17th. Wolfe Research set a $152.00 price target on United Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Cowen reaffirmed a “buy” rating and issued a $150.00 price target on shares of United Technologies in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $154.69.

In other news, VP Robert J. Bailey sold 1,299 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $149.17, for a total transaction of $193,771.83. Following the completion of the sale, the vice president now directly owns 2,600 shares of the company’s stock, valued at approximately $387,842. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 831 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $135.09, for a total value of $112,259.79. Following the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $270,180. The disclosure for this sale can be found here. Insiders sold a total of 185,306 shares of company stock valued at $25,914,056 over the last three months. 0.15% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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