Capital International Investors Has $1.32 Billion Stock Holdings in United Technologies Co. (NYSE:UTX)
Capital International Investors boosted its holdings in shares of United Technologies Co. (NYSE:UTX) by 27.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,820,088 shares of the conglomerate’s stock after buying an additional 1,885,713 shares during the period. Capital International Investors owned approximately 1.02% of United Technologies worth $1,320,896,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in UTX. PSI Advisors LLC bought a new stake in United Technologies during the fourth quarter valued at about $29,000. Accurate Investment Solutions Inc. bought a new stake in shares of United Technologies during the fourth quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. bought a new stake in shares of United Technologies during the fourth quarter valued at approximately $30,000. Capital Wealth Alliance LLC bought a new position in United Technologies in the fourth quarter valued at approximately $30,000. Finally, Savior LLC acquired a new stake in shares of United Technologies during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.
A number of brokerages have recently commented on UTX. Credit Suisse Group decreased their price objective on shares of United Technologies from $177.00 to $172.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. They noted that the move was a valuation call. 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. ValuEngine upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Barclays reiterated a “buy” rating and set a $150.00 price objective on shares of United Technologies in a research report on Friday, March 13th. Finally, Cowen reiterated an “outperform” rating and set a $150.00 price objective (down from $169.00) on shares of United Technologies in a research report on Thursday, March 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $162.80.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.10. United Technologies had a net margin of 7.19% and a return on equity of 16.60%. The firm had revenue of $19.55 billion during the quarter, compared to analysts’ expectations of $19.34 billion. During the same period in the prior year, the company posted $1.95 earnings per share. United Technologies’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts expect that United Technologies Co. will post 7.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 14th were given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Thursday, February 13th. United Technologies’s dividend payout ratio (DPR) is presently 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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