Teachers Retirement System of The State of Kentucky cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 401,117 shares of the conglomerate’s stock after selling 28,000 shares during the period. United Technologies makes up about 0.6% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 19th largest holding. Teachers Retirement System of The State of Kentucky owned about 0.05% of United Technologies worth $51,171,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Beach Investment Management LLC. bought a new position in shares of United Technologies in the second quarter valued at $434,000. Bahl & Gaynor Inc. increased its holdings in shares of United Technologies by 7.5% in the second quarter. Bahl & Gaynor Inc. now owns 614,945 shares of the conglomerate’s stock valued at $67,411,000 after buying an additional 43,071 shares in the last quarter. Bruderman Asset Management LLC bought a new position in shares of United Technologies in the second quarter valued at $706,000. Richard C. Young & CO. LTD. increased its holdings in shares of United Technologies by 41.0% in the second quarter. Richard C. Young & CO. LTD. now owns 10,898 shares of the conglomerate’s stock valued at $1,331,000 after buying an additional 3,167 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of United Technologies by 0.3% in the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after buying an additional 133,036 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.
In other United Technologies news, VP Robert J. Bailey sold 419 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total transaction of $56,032.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert J. Bailey sold 2,032 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
Shares of NYSE:UTX opened at $123.08 on Monday. 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 12-month low of $109.10 and a 12-month high of $139.24. The firm has a market cap of $98,436.68, a price-to-earnings ratio of 18.51, a PEG ratio of 1.86 and a beta of 1.08.
United Technologies (NYSE:UTX) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the previous year, the business earned $1.56 EPS. The company’s revenue was up 7.0% on a year-over-year basis. sell-side analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
UTX has been the topic of several research reports. Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a report on Saturday, January 20th. Goldman Sachs raised United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. UBS initiated coverage on United Technologies in a report on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 price target on the stock. Argus raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. United Technologies 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 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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