EP Wealth Advisors LLC grew its holdings in United Technologies Co. (NYSE:UTX) by 42.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 115,471 shares of the conglomerate’s stock after acquiring an additional 34,448 shares during the period. United Technologies accounts for approximately 1.4% of EP Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. EP Wealth Advisors LLC’s holdings in United Technologies were worth $14,883,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UTX. Point View Wealth Management Inc. increased its position in United Technologies by 2.4% during the 4th quarter. Point View Wealth Management Inc. now owns 3,600 shares of the conglomerate’s stock valued at $383,000 after buying an additional 85 shares in the last quarter. Addenda Capital Inc. increased its position in United Technologies by 0.7% during the 1st quarter. Addenda Capital Inc. now owns 11,912 shares of the conglomerate’s stock valued at $1,535,000 after buying an additional 87 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. boosted its stake in United Technologies by 2.0% during the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 4,794 shares of the conglomerate’s stock valued at $510,000 after purchasing an additional 93 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in United Technologies by 3.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,221 shares of the conglomerate’s stock valued at $343,000 after purchasing an additional 95 shares during the last quarter. Finally, National Asset Management Inc. boosted its stake in United Technologies by 0.8% during the 4th quarter. National Asset Management Inc. now owns 12,319 shares of the conglomerate’s stock valued at $1,313,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.

UTX stock opened at $125.30 on Monday. The firm has a market capitalization of $108.05 billion, a PE ratio of 16.47, a PEG ratio of 1.79 and a beta of 1.26. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.40. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 0.98.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.20. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. The firm had revenue of $18.37 billion for the quarter, compared to analysts’ expectations of $18.01 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The business’s revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts expect that United Technologies Co. will post 7.97 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.35%. United Technologies’s dividend payout ratio is currently 38.63%.

Several analysts have commented on UTX shares. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Friday. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a research note on Wednesday, March 27th. Seaport Global Securities upgraded United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Monday, June 10th. William Blair reiterated a “hold” rating on shares of United Technologies in a research note on Monday, June 10th. Finally, Barclays increased their target price on United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $149.86.

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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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