Cypress Asset Management Inc. TX Cuts Stake in United Technologies Co. (NYSE:UTX)

Cypress Asset Management Inc. TX reduced its position in United Technologies Co. (NYSE:UTX) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,375 shares of the conglomerate’s stock after selling 1,330 shares during the quarter. United Technologies comprises approximately 1.5% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 20th biggest holding. Cypress Asset Management Inc. TX’s holdings in United Technologies were worth $4,549,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its holdings in shares of United Technologies by 2.5% during the third quarter. Fisher Asset Management LLC now owns 4,727,841 shares of the conglomerate’s stock valued at $645,445,000 after buying an additional 117,400 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of United Technologies by 17.9% during the fourth quarter. Fiera Capital Corp now owns 4,595,785 shares of the conglomerate’s stock valued at $688,265,000 after buying an additional 697,181 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of United Technologies by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,579,433 shares of the conglomerate’s stock valued at $536,056,000 after buying an additional 45,945 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of United Technologies by 1.3% during the third quarter. Parametric Portfolio Associates LLC now owns 2,480,766 shares of the conglomerate’s stock valued at $338,674,000 after buying an additional 31,077 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of United Technologies by 2.0% during the fourth quarter. California Public Employees Retirement System now owns 1,926,508 shares of the conglomerate’s stock valued at $288,514,000 after buying an additional 38,225 shares during the last quarter. 80.94% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the stock. Cowen assumed coverage on shares of United Technologies in a report on Tuesday, January 28th. They set a “buy” rating and a $169.00 price objective on the stock. UBS Group boosted their price objective on shares of United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Credit Suisse Group boosted their price objective on shares of United Technologies from $174.00 to $176.00 and gave the company an “outperform” rating in a report on Tuesday. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, November 28th. Finally, Benchmark assumed coverage on shares of United Technologies in a report on Friday, January 31st. They set a “buy” rating and a $186.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $164.53.

NYSE UTX traded down $0.04 on Friday, reaching $153.02. 40,712 shares of the company’s stock traded hands, compared to its average volume of 3,849,656. The firm has a market cap of $135.46 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 2.29 and a beta of 1.24. The stock has a 50 day moving average price of $152.90 and a 200-day moving average price of $142.18. United Technologies Co. has a fifty-two week low of $121.48 and a fifty-two week high of $158.44. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.10. The company had revenue of $19.55 billion during the quarter, compared to the consensus estimate of $19.34 billion. United Technologies had a net margin of 7.19% and a return on equity of 16.60%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.95 earnings per share. As a group, equities research analysts anticipate that United Technologies Co. will post 8.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.94 dividend on an annualized basis and a yield of 1.92%. United Technologies’s dividend payout ratio is presently 35.59%.

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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