Coastline Trust Co Raises Holdings in United Technologies Co. (NYSE:UTX)

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Coastline Trust Co increased its holdings in shares of United Technologies Co. (NYSE:UTX) by 11.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 15,460 shares of the conglomerate’s stock after purchasing an additional 1,540 shares during the period. Coastline Trust Co’s holdings in United Technologies were worth $2,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Advisory Inc. acquired a new position in United Technologies in the 2nd quarter valued at approximately $341,297,000. Boston Partners grew its stake in shares of 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. Epoch Investment Partners Inc. grew its position in United Technologies by 597.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,289,716 shares of the conglomerate’s stock worth $161,253,000 after acquiring an additional 1,104,849 shares during the last quarter. Mainstay Capital Management LLC ADV grew its position in United Technologies by 5,810.8% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 993,368 shares of the conglomerate’s stock worth $8,864,000 after acquiring an additional 976,562 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in United Technologies during the 2nd quarter worth approximately $113,560,000. 81.64% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on UTX shares. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Tuesday, September 25th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Finally, UBS Group initiated coverage on United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $151.90.

United Technologies stock traded down $0.63 during mid-day trading on Friday, hitting $130.71. 5,007,130 shares of the company’s stock were exchanged, compared to its average volume of 5,200,149. The company has a market capitalization of $104.57 billion, a PE ratio of 19.66, a PEG ratio of 1.98 and a beta of 1.09. United Technologies Co. has a fifty-two week low of $115.40 and a fifty-two week high of $144.15. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.11. The business had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.10 billion. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS. Analysts predict that United Technologies Co. will post 7.27 EPS for the current fiscal year.

The company also recently announced 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 2.25%. The ex-dividend date is Thursday, November 15th. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio is 42.11%.

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United Technologies Company Profile

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.

Read More: How can you know how many shares are floating?

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

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