Jensen Investment Management Inc. Raises Stock Position in United Technologies Co. (NYSE:UTX)

Jensen Investment Management Inc. increased its stake in shares of United Technologies Co. (NYSE:UTX) by 24.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,968,549 shares of the conglomerate’s stock after acquiring an additional 785,493 shares during the quarter. United Technologies makes up about 5.9% of Jensen Investment Management Inc.’s portfolio, making the stock its 4th largest position. Jensen Investment Management Inc.’s holdings in United Technologies were worth $516,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of UTX. Deprince Race & Zollo Inc. grew its holdings in United Technologies by 13.9% in the 4th quarter. Deprince Race & Zollo Inc. now owns 175,715 shares of the conglomerate’s stock worth $18,710,000 after buying an additional 21,495 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in United Technologies by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,383,674 shares of the conglomerate’s stock worth $466,759,000 after buying an additional 256,907 shares in the last quarter. Geode Capital Management LLC grew its holdings in United Technologies by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock worth $1,055,120,000 after buying an additional 1,293,517 shares in the last quarter. Stone Ridge Asset Management LLC grew its holdings in United Technologies by 104.5% in the 4th quarter. Stone Ridge Asset Management LLC now owns 29,017 shares of the conglomerate’s stock worth $3,089,000 after buying an additional 14,829 shares in the last quarter. Finally, Natixis Investment Managers International grew its holdings in United Technologies by 18.0% in the 4th quarter. Natixis Investment Managers International now owns 131,900 shares of the conglomerate’s stock worth $14,016,000 after buying an additional 20,141 shares in the last quarter. 81.03% of the stock is currently owned by institutional investors and hedge funds.

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

A number of equities analysts recently issued reports on UTX shares. Cowen raised United Technologies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $135.00 to $150.00 in a report on Monday, June 24th. Zacks Investment Research lowered United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a report on Friday, July 19th. Bank of America reissued a “buy” rating and issued a $195.00 price objective (up from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Friday, June 14th. Finally, Barclays upped their target price on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $152.21.

UTX traded up $1.31 during trading on Friday, reaching $125.05. The stock had a trading volume of 2,507,500 shares, compared to its average volume of 3,281,953. The firm has a market capitalization of $107.25 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.40. The stock has a 50 day moving average of $131.64 and a two-hundred day moving average of $130.30.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The firm had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.97 earnings per share. On average, research analysts forecast that United Technologies Co. will post 8.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.735 dividend. The ex-dividend date 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 (DPR) is 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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