10 15 Associates Inc. lifted its position in shares of United Technologies Co. (NYSE:UTX) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,898 shares of the conglomerate’s stock after acquiring an additional 359 shares during the quarter. 10 15 Associates Inc.’s holdings in United Technologies were worth $2,980,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UTX. A.R.T. Advisors LLC bought a new stake in shares of United Technologies during the second quarter valued at approximately $339,000. Mackenzie Financial Corp increased its position in shares of United Technologies by 22.7% during the second quarter. Mackenzie Financial Corp now owns 2,002,606 shares of the conglomerate’s stock valued at $260,739,000 after acquiring an additional 370,601 shares in the last quarter. Mutual Advisors LLC increased its position in shares of United Technologies by 10.2% during the second quarter. Mutual Advisors LLC now owns 5,216 shares of the conglomerate’s stock valued at $679,000 after acquiring an additional 484 shares in the last quarter. Prestige Wealth Management Group LLC bought a new stake in shares of United Technologies during the second quarter valued at approximately $77,000. Finally, Phocas Financial Corp. bought a new stake in shares of United Technologies during the second quarter valued at approximately $25,000. 80.91% of the stock is currently owned by institutional investors.
UTX has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, November 28th. UBS Group lifted their target price on shares of United Technologies from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their target price on shares of United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Cowen reaffirmed a “buy” rating and issued a $169.00 target price on shares of United Technologies in a research report on Wednesday. Finally, Credit Suisse Group set a $162.00 target price on shares of United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $160.79.
In other news, VP Robert J. Bailey sold 1,299 shares of United Technologies stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total transaction of $193,771.83. Following the transaction, the vice president now owns 2,600 shares in the company, valued at approximately $387,842. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael R. Dumais sold 6,554 shares of United Technologies stock in a transaction on Friday, November 1st. The stock was sold at an average price of $145.91, for a total transaction of $956,294.14. Following the transaction, the executive vice president now owns 37,173 shares in the company, valued at approximately $5,423,912.43. The disclosure for this sale can be found here. Insiders have sold a total of 69,015 shares of company stock worth $10,163,321 in the last quarter. Corporate insiders own 0.15% of the company’s stock.
NYSE:UTX opened at $153.19 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.75 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 12 month low of $113.77 and a 12 month high of $155.53. The company has a market cap of $132.24 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.22. The company has a 50 day simple moving average of $150.89 and a two-hundred day simple moving average of $140.18.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.31 billion. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 EPS. Research analysts forecast that United Technologies Co. will post 8.13 earnings per share for the current year.
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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