State Treasurer State of Michigan cut its position in shares of United Technologies Co. (NYSE:UTX) by 4.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 473,103 shares of the conglomerate’s stock after selling 19,500 shares during the quarter. State Treasurer State of Michigan owned 0.06% of United Technologies worth $54,918,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of UTX. FMR LLC lifted its position in shares of United Technologies by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares in the last quarter. Harbour Capital Advisors LLC raised its position in United Technologies by 11,652.2% during the second quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after acquiring an additional 2,109,056 shares in the last quarter. Vanguard Group Inc. raised its position in United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after acquiring an additional 848,623 shares in the last quarter. Flossbach Von Storch AG raised its position in United Technologies by 95.6% during the second quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock valued at $197,453,000 after acquiring an additional 790,496 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in United Technologies by 50.9% during the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock valued at $274,067,000 after acquiring an additional 756,600 shares in the last quarter. 80.07% of the stock is owned by institutional investors.
UTX has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $126.00 price objective on shares of United Technologies in a research report on Tuesday, October 10th. Zacks Investment Research downgraded United Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Cowen restated a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research note on Tuesday, October 24th. Stifel Nicolaus raised their target price on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $125.63.
Shares of United Technologies Co. (NYSE UTX) traded up $0.09 during mid-day trading on Thursday, reaching $134.99. The company had a trading volume of 4,803,200 shares, compared to its average volume of 3,410,000. 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 $107,800.00, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.29 and a beta of 1.07. United Technologies Co. has a 1 year low of $106.85 and a 1 year high of $136.26.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 EPS. analysts expect that United Technologies Co. will post 6.61 EPS for the current year.
In related news, VP Akhil Johri sold 5,979 shares of the business’s 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 completion of the transaction, the vice president now directly owns 23,295 shares in the company, valued at approximately $2,819,393.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Bailey sold 864 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the sale, the vice president now owns 2,000 shares in the company, valued at approximately $252,020. The disclosure for this sale can be found here. Insiders have sold a total of 16,466 shares of company stock valued at $2,019,274 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.
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United Technologies 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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