Gamble Jones Investment Counsel reduced its holdings in United Technologies Co. (NYSE:UTX) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,954 shares of the conglomerate’s stock after selling 1,522 shares during the period. United Technologies makes up 0.8% of Gamble Jones Investment Counsel’s holdings, making the stock its 24th biggest position. Gamble Jones Investment Counsel’s holdings in United Technologies were worth $8,796,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in United Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after acquiring an additional 848,623 shares in the last quarter. BlackRock Inc. grew its holdings in United Technologies by 0.3% during the 2nd quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock worth $5,384,561,000 after acquiring an additional 133,036 shares in the last quarter. FMR LLC grew its holdings in United Technologies by 13.2% during the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after acquiring an additional 2,401,795 shares in the last quarter. Capital Research Global Investors grew its holdings in United Technologies by 3.6% during the 2nd quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after acquiring an additional 304,989 shares in the last quarter. Finally, Boston Partners grew its holdings in United Technologies by 5.3% during the 3rd quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock worth $634,658,000 after acquiring an additional 274,184 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.95, for a total value of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Bailey sold 419 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total value of $56,032.87. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
NYSE UTX traded up $0.80 during mid-day trading on Thursday, hitting $123.25. The company’s stock had a trading volume of 3,232,024 shares, compared to its average volume of 5,067,861. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. United Technologies Co. has a 52-week low of $109.10 and a 52-week high of $139.24. The firm has a market capitalization of $98,340.74, a price-to-earnings ratio of 18.53, a PEG ratio of 1.86 and a beta of 1.08.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. During the same quarter last year, the company earned $1.56 earnings per share. United Technologies’s revenue for the quarter was up 7.0% on a year-over-year basis. sell-side analysts forecast that United Technologies Co. will post 7.04 EPS for the current fiscal year.
Several brokerages have recently weighed in on UTX. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Cowen reiterated a “hold” rating and issued a $141.00 price target on shares of United Technologies in a research report on Thursday, January 25th. Stifel Nicolaus reiterated a “hold” rating and issued a $146.00 price target (up previously from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Sanford C. Bernstein reiterated a “positive” rating and issued a $153.00 price target (up previously from $135.00) on shares of United Technologies in a research report on Tuesday, January 30th. Finally, Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $139.07.
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United Technologies Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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