Mutual Advisors LLC raised its stake in United Technologies Co. (NYSE:UTX) by 43.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,925 shares of the conglomerate’s stock after purchasing an additional 2,096 shares during the quarter. Mutual Advisors LLC’s holdings in United Technologies were worth $737,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of UTX. Kentucky Retirement Systems bought a new position in shares of United Technologies during the 3rd quarter worth approximately $7,931,000. Dodge & Cox boosted its stake in shares of United Technologies by 25.7% during the 3rd quarter. Dodge & Cox now owns 2,200 shares of the conglomerate’s stock worth $308,000 after acquiring an additional 450 shares during the period. Drexel Morgan & Co. boosted its stake in shares of United Technologies by 4.1% during the 4th quarter. Drexel Morgan & Co. now owns 12,530 shares of the conglomerate’s stock worth $1,334,000 after acquiring an additional 491 shares during the period. Signet Investment Advisory Group Inc. bought a new position in shares of United Technologies during the 4th quarter worth approximately $403,000. Finally, Lau Associates LLC boosted its stake in shares of United Technologies by 21.8% during the 4th quarter. Lau Associates LLC now owns 17,584 shares of the conglomerate’s stock worth $1,872,000 after acquiring an additional 3,153 shares during the period. Hedge funds and other institutional investors own 80.83% of the company’s stock.
Several research analysts have recently commented on UTX shares. Citigroup reiterated a “neutral” rating and set a $120.00 target price (down from $125.00) on shares of United Technologies in a research note on Thursday, January 3rd. Royal Bank of Canada downgraded United Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $139.00 to $119.00 in a research note on Thursday, January 3rd. Barclays reduced their target price on United Technologies from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, January 11th. OTR Global downgraded United Technologies to a “positive” rating in a research note on Friday, January 18th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $149.00 price target on shares of United Technologies in a report on Wednesday, January 23rd. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $147.00.
NYSE:UTX opened at $139.59 on Thursday. The company has a market cap of $120.74 billion, a P/E ratio of 18.34, a PEG ratio of 2.01 and a beta of 1.20. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.15.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.20. The business had revenue of $18.37 billion during the quarter, compared to analysts’ expectations of $18.01 billion. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the firm posted $1.77 EPS. As a group, equities research analysts forecast that United Technologies Co. will post 7.92 earnings per share for the current year.
In other United Technologies news, Chairman Gregory Hayes sold 35,942 shares of United Technologies stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $123.81, for a total value of $4,449,979.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Kelly Ortberg sold 16,587 shares of United Technologies stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $126.59, for a total value of $2,099,748.33. Following the completion of the transaction, the chief executive officer now directly owns 70,211 shares of the company’s stock, valued at $8,888,010.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,770 shares of company stock valued at $12,153,044. 0.15% of the stock is currently owned by insiders.
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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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