6,056 Shares in United Technologies Co. (NYSE:UTX) Bought by Jacobsen Capital Management

Jacobsen Capital Management purchased a new position in United Technologies Co. (NYSE:UTX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,056 shares of the conglomerate’s stock, valued at approximately $788,000.

A number of other hedge funds have also made changes to their positions in UTX. Geode Capital Management LLC lifted its position in United Technologies by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after buying an additional 1,293,517 shares during the period. Norges Bank purchased a new position in United Technologies during the fourth quarter valued at $824,350,000. Fisher Asset Management LLC lifted its position in United Technologies by 3.4% during the second quarter. Fisher Asset Management LLC now owns 4,610,441 shares of the conglomerate’s stock valued at $600,279,000 after buying an additional 151,889 shares during the period. Dimensional Fund Advisors LP lifted its position in United Technologies by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,383,674 shares of the conglomerate’s stock valued at $466,759,000 after buying an additional 256,907 shares during the period. Finally, Clearbridge Investments LLC lifted its position in United Technologies by 170.5% during the first quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after buying an additional 2,503,654 shares during the period. 81.03% of the stock is owned by institutional investors.

In related news, EVP Elizabeth B. Amato sold 4,298 shares of United Technologies stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the sale, the executive vice president now directly owns 30,847 shares in the company, valued at approximately $4,186,246.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael R. Dumais sold 4,329 shares of United Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the completion of the sale, the executive vice president now owns 39,265 shares of the company’s stock, valued at $5,142,929.70. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.



UTX has been the subject of several recent research reports. Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Monday, June 10th. Bank of America restated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of United Technologies in a report on Thursday, July 25th. William Blair restated a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Friday, June 14th. Finally, Cowen upgraded United Technologies from a “market perform” rating to an “outperform” rating and raised their price target for the company from $135.00 to $150.00 in a report on Monday, June 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. United Technologies has an average rating of “Buy” and a consensus target price of $152.21.

Shares of NYSE:UTX traded up $1.81 on Friday, hitting $125.55. 104,624 shares of the company traded hands, compared to its average volume of 3,250,794. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. The stock has a 50 day simple moving average of $131.70 and a 200-day simple moving average of $130.32. The company has a market cap of $107.65 billion, a PE ratio of 16.47, a PEG ratio of 1.83 and a beta of 1.20.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The firm had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same period last year, the company earned $1.97 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts anticipate that United Technologies Co. will post 8.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.34%. United Technologies’s payout ratio is presently 38.63%.

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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