Fisher Asset Management LLC increased its stake in United Technologies Co. (NYSE:UTX) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,194,261 shares of the conglomerate’s stock after acquiring an additional 107,596 shares during the quarter. Fisher Asset Management LLC owned 0.52% of United Technologies worth $586,400,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in United Technologies by 2.7% in the 2nd quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock valued at $3,308,428,000 after purchasing an additional 707,417 shares during the period. Third Point LLC grew its position in United Technologies by 7.0% in the 2nd quarter. Third Point LLC now owns 7,600,000 shares of the conglomerate’s stock valued at $950,228,000 after purchasing an additional 500,000 shares during the period. Boston Partners grew its position in United Technologies by 25.0% in the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock valued at $844,240,000 after purchasing an additional 1,349,539 shares during the period. Dimensional Fund Advisors LP grew its position in United Technologies by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,490,898 shares of the conglomerate’s stock valued at $436,463,000 after purchasing an additional 402,311 shares during the period. Finally, Burgundy Asset Management Ltd. grew its position in United Technologies by 0.6% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,435,412 shares of the conglomerate’s stock valued at $429,530,000 after purchasing an additional 21,043 shares during the period. Institutional investors own 81.84% of the company’s stock.
NYSE UTX opened at $123.23 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 debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10. The firm has a market capitalization of $101.13 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.39%. This is an increase from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s payout ratio is currently 42.11%.
UTX has been the subject of several research reports. Robert W. Baird lifted their price target on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, September 20th. Jefferies Financial Group set a $157.00 price target on shares of United Technologies and gave the company a “buy” rating in a research report on Tuesday, July 10th. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Friday, October 12th. Finally, ValuEngine downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $151.90.
In other United Technologies news, VP Robert J. Bailey sold 828 shares of United Technologies stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total transaction of $111,573.00. Following the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $269,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is 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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