Alta Capital Management LLC increased its holdings in shares of United Technologies Co. (NYSE:UTX) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,255 shares of the conglomerate’s stock after buying an additional 2,563 shares during the quarter. Alta Capital Management LLC’s holdings in United Technologies were worth $19,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Tortoise Investment Management LLC lifted its holdings in shares of United Technologies by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after buying an additional 48 shares during the period. Seven Bridges Advisors LLC acquired a new position in United Technologies in the 2nd quarter worth about $120,000. Winfield Associates Inc. raised its holdings in United Technologies by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in United Technologies in the 2nd quarter worth about $131,000. Finally, Alexandria Capital LLC raised its holdings in shares of United Technologies by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 80.07% of the company’s stock.
In other United Technologies news, VP Akhil Johri sold 5,979 shares of United Technologies stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $121.03, for a total value of $723,638.37. Following the sale, the vice president now owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael R. Dumais sold 2,986 shares of United Technologies stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the sale, the executive vice president now directly owns 27,548 shares in the company, valued at approximately $3,332,757.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,466 shares of company stock worth $2,019,274. Corporate insiders own 0.16% of the company’s stock.
A number of equities analysts have commented on UTX shares. Zacks Investment Research cut United Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Royal Bank of Canada upgraded United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Cowen reiterated a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research report on Friday, November 10th. Finally, Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. United Technologies presently has an average rating of “Hold” and a consensus target price of $125.63.
United Technologies Co. (NYSE UTX) traded up $1.59 during trading on Friday, reaching $136.58. The company’s stock had a trading volume of 5,214,314 shares, compared to its average volume of 3,480,000. United Technologies Co. has a one year low of $106.85 and a one year high of $136.58. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The firm has a market capitalization of $109,070.00, a PE ratio of 21.14, a PEG ratio of 2.34 and a beta of 1.07.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. United Technologies’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.76 earnings per share. analysts anticipate that United Technologies Co. will post 6.61 earnings per share for the current year.
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United Technologies Company 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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