Weil Company Inc. acquired a new stake in United Technologies Co. (NYSE:UTX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,787 shares of the conglomerate’s stock, valued at approximately $483,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in United Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after purchasing an additional 848,623 shares during the period. BlackRock Inc. raised its position in United Technologies by 1.8% in the fourth quarter. BlackRock Inc. now owns 46,850,302 shares of the conglomerate’s stock valued at $5,976,695,000 after purchasing an additional 822,595 shares during the period. FMR LLC raised its position in United Technologies by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after purchasing an additional 2,401,795 shares during the period. Capital Research Global Investors raised its position in United Technologies by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after purchasing an additional 304,989 shares during the period. Finally, Geode Capital Management LLC raised its position in United Technologies by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 7,665,846 shares of the conglomerate’s stock valued at $975,815,000 after purchasing an additional 139,345 shares during the period. Hedge funds and other institutional investors own 81.89% of the company’s stock.
A number of brokerages have issued reports on UTX. Zacks Investment Research lowered United Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 13th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $146.00 target price (up previously from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Cowen reissued a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research report on Thursday, January 25th. Finally, UBS began coverage on United Technologies in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $139.07.
United Technologies stock opened at $123.85 on Friday. United Technologies Co. has a twelve month low of $109.10 and a twelve month high of $139.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. The firm has a market cap of $99,596.39, a PE ratio of 18.62, a P/E/G ratio of 1.89 and a beta of 1.08.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same quarter in the prior year, the company earned $1.56 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. analysts predict that United Technologies Co. will post 7.04 EPS for the current year.
In related news, VP Robert J. Bailey sold 2,032 shares of the 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 transaction, the vice president now owns 4,900 shares of the company’s stock, valued at $661,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.
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United Technologies 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.
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