HPM Partners LLC reduced its stake in shares of United Technologies Co. (NYSE:UTX) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,519 shares of the conglomerate’s stock after selling 3,020 shares during the quarter. HPM Partners LLC’s holdings in United Technologies were worth $3,441,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Morningstar Investment Services LLC grew its holdings in shares of United Technologies by 6.3% during the first quarter. Morningstar Investment Services LLC now owns 261,808 shares of the conglomerate’s stock worth $32,941,000 after purchasing an additional 15,624 shares during the last quarter. Sun Life Financial INC grew its holdings in shares of United Technologies by 546.5% during the second quarter. Sun Life Financial INC now owns 6,265 shares of the conglomerate’s stock worth $784,000 after purchasing an additional 5,296 shares during the last quarter. Grassi Investment Management bought a new stake in shares of United Technologies during the second quarter worth $7,044,000. Victory Capital Management Inc. grew its holdings in shares of United Technologies by 189.6% during the second quarter. Victory Capital Management Inc. now owns 109,588 shares of the conglomerate’s stock worth $13,701,000 after purchasing an additional 71,753 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of United Technologies by 0.5% during the second quarter. Jones Financial Companies Lllp now owns 96,047 shares of the conglomerate’s stock worth $12,009,000 after purchasing an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.
Several analysts have recently commented on the company. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Tuesday, May 22nd. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. Wolfe Research assumed coverage on United Technologies in a report on Wednesday, June 27th. They set an “outperform” rating on the stock. Morgan Stanley assumed coverage on United Technologies in a report on Friday, June 15th. They set an “overweight” rating and a $160.00 target price on the stock. Finally, Jefferies Financial Group set a $157.00 target price on United Technologies and gave the stock a “buy” rating in a report on Tuesday, July 10th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. United Technologies currently has a consensus rating of “Buy” and an average price target of $146.78.
In related news, CFO Akhil Johri sold 3,428 shares of the firm’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $135.82, for a total value of $465,590.96. Following the transaction, the chief financial officer now owns 43,403 shares in the company, valued at $5,894,995.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert J. Bailey sold 828 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total value of $111,573.00. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $269,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,511 shares of company stock worth $2,521,974. 0.17% of the stock is owned by company insiders.
United Technologies stock opened at $139.58 on Wednesday. The stock has a market capitalization of $110.25 billion, a P/E ratio of 20.99, a PEG ratio of 2.09 and a beta of 1.02. United Technologies Co. has a 12-month low of $112.76 and a 12-month high of $140.33. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.82.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.12. The business had revenue of $16.71 billion for the quarter, compared to analysts’ expectations of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.85 earnings per share. equities analysts predict that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.
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.
Read More: Return on Equity (ROE)
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