Dana Investment Advisors Inc. acquired a new position in United Technologies Co. (NYSE:UTX) in the fourth quarter, Holdings Channel reports. The firm acquired 3,244 shares of the conglomerate’s stock, valued at approximately $345,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. WESPAC Advisors SoCal LLC bought a new stake in United Technologies during the 4th quarter valued at $26,000. Guidant Wealth Advisors raised its holdings in United Technologies by 64.9% during the 4th quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Braun Bostich & Associates Inc. raised its holdings in United Technologies by 73.0% during the 4th quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock valued at $39,000 after buying an additional 154 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in United Technologies during the 4th quarter valued at $51,000. Finally, Murphy Pohlad Asset Management LLC bought a new stake in United Technologies during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.
A number of research firms recently commented on UTX. JPMorgan Chase & Co. started coverage on shares of United Technologies in a report on Friday, February 22nd. They set an “overweight” rating and a $132.00 price target for the company. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Goldman Sachs Group raised shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 target price on the stock in a research report on Friday, February 1st. Royal Bank of Canada upped their target price on shares of United Technologies to $129.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 24th. Finally, Bank of America reissued a “buy” rating and set a $185.00 price objective on shares of United Technologies in a research report on Thursday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $144.00.
Shares of UTX opened at $135.34 on Wednesday. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.15. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 1.01. The company has a market cap of $116.08 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.94 and a beta of 1.20.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Wednesday, January 23rd. The conglomerate reported $1.95 EPS for the quarter, topping the consensus estimate of $1.53 by $0.42. The company had revenue of $18.04 billion during the quarter, compared to analyst estimates of $16.87 billion. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. United Technologies’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 earnings per share. Analysts forecast that United Technologies Co. will post 7.92 earnings per share for the current fiscal year.
In related news, VP Robert J. Bailey sold 862 shares of United Technologies stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $121.71, for a total value of $104,914.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael R. Dumais sold 9,620 shares of United Technologies stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total value of $1,145,934.40. Following the completion of the sale, the executive vice president now owns 35,627 shares of the company’s stock, valued at $4,243,888.24. The disclosure for this sale can be found here. Insiders have sold 97,770 shares of company stock valued at $12,153,044 over the last ninety days. 0.15% of the stock is 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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