Morningstar Investment Services LLC reduced its position in shares of United Technologies Co. (NYSE:UTX) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,000 shares of the conglomerate’s stock after selling 12,354 shares during the period. Morningstar Investment Services LLC’s holdings in United Technologies were worth $24,490,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of UTX. WESPAC Advisors SoCal LLC purchased a new stake in United Technologies in the fourth quarter worth about $26,000. Guidant Wealth Advisors lifted its holdings in United Technologies by 64.9% in the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock worth $27,000 after buying an additional 100 shares during the period. Braun Bostich & Associates Inc. lifted its holdings in United Technologies by 73.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock worth $39,000 after buying an additional 154 shares during the period. Financial Gravity Companies Inc. purchased a new stake in United Technologies in the fourth quarter worth about $51,000. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in United Technologies in the fourth quarter worth about $56,000. Institutional investors own 80.84% of the company’s stock.
In other United Technologies news, EVP Michael R. Dumais sold 9,620 shares of the firm’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total transaction of $1,145,934.40. Following the completion of the transaction, the executive vice president now owns 35,627 shares of the company’s stock, valued at $4,243,888.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gregory Hayes sold 35,942 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $123.81, for a total transaction of $4,449,979.02. The disclosure for this sale can be found here. Insiders have sold 97,770 shares of company stock valued at $12,153,044 in the last ninety days. Insiders own 0.15% of the company’s stock.
Several brokerages have commented on UTX. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. began coverage on shares of United Technologies in a report on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price objective for the company. Goldman Sachs Group upgraded shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 price objective for the company in a report on Friday, February 1st. Royal Bank of Canada raised their price objective on shares of United Technologies to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, January 24th. Finally, Bank of America restated a “buy” rating and issued a $185.00 price objective on shares of United Technologies in a report on Thursday, January 24th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $144.00.
Shares of NYSE UTX opened at $137.00 on Friday. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.15. The company has a market cap of $118.14 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 1.93 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 1.01.
United Technologies (NYSE:UTX) last announced its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.42. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The business had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $16.87 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts anticipate that United Technologies Co. will post 7.92 EPS for the current year.
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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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