Ashmore Wealth Management LLC Has $17.78 Million Position in United Technologies Co. (UTX)

Ashmore Wealth Management LLC decreased its stake in shares of United Technologies Co. (NYSE:UTX) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,186 shares of the conglomerate’s stock after selling 10,070 shares during the period. United Technologies comprises about 0.9% of Ashmore Wealth Management LLC’s holdings, making the stock its 24th largest position. Ashmore Wealth Management LLC’s holdings in United Technologies were worth $17,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in UTX. Credit Agricole S A raised its stake in shares of United Technologies by 101.4% during the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after purchasing an additional 436 shares during the period. Fort L.P. bought a new stake in shares of United Technologies during the 2nd quarter valued at $120,000. Psagot Investment House Ltd. bought a new stake in shares of United Technologies during the 3rd quarter valued at $134,000. Adalta Capital Management LLC bought a new stake in shares of United Technologies during the 2nd quarter valued at $163,000. Finally, Integrated Investment Consultants LLC bought a new stake in shares of United Technologies during the 2nd quarter valued at $197,000. 82.10% of the stock is currently owned by institutional investors.

Shares of NYSE UTX opened at $123.60 on Tuesday. The stock has a market capitalization of $97.59 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.17 and a current ratio of 1.52. United Technologies Co. has a twelve month low of $115.40 and a twelve month high of $144.15.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16.10 billion. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. Research analysts forecast that United Technologies Co. will post 7.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a $0.735 dividend. This is a boost from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s dividend payout ratio is presently 44.21%.

A number of analysts recently issued reports on UTX shares. Robert W. Baird boosted their price objective on United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, September 20th. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Jefferies Financial Group set a $148.00 target price on United Technologies and gave the stock a “buy” rating in a research note on Tuesday, November 27th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Finally, Bank of America set a $180.00 target price on United Technologies and gave the stock a “buy” rating in a research note on Tuesday, November 27th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $151.58.

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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.

Further Reading: What is the Dividend Aristocrat Index?

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

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