Dynamic Technology Lab Private Ltd bought a new position in United Technologies Co. (NYSE:UTX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,480 shares of the conglomerate’s stock, valued at approximately $288,000.
Several other hedge funds and other institutional investors also recently modified their holdings of UTX. Knowledge Leaders Capital LLC acquired a new stake in shares of United Technologies in the third quarter worth $105,000. Tortoise Investment Management LLC boosted its position in shares of United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares during the period. Seven Bridges Advisors LLC acquired a new stake in shares of United Technologies in the second quarter worth $120,000. Winfield Associates Inc. boosted its position in shares of United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after buying an additional 29 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of United Technologies in the second quarter worth $131,000. Institutional investors and hedge funds own 80.07% of the company’s stock.
In other United Technologies news, VP Akhil Johri sold 5,979 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 23,295 shares of the company’s stock, valued at $2,819,393.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth B. Amato sold 4,341 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the completion of the sale, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The disclosure for this sale can be found here. Insiders sold 16,466 shares of company stock valued at $2,019,274 in the last ninety days. Insiders own 0.16% of the company’s stock.
UTX has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $126.00 target price on shares of United Technologies in a research report on Tuesday, October 10th. Zacks Investment Research cut United Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Cowen reaffirmed a “hold” rating and issued a $120.00 target price on shares of United Technologies in a research report on Tuesday, October 24th. Stifel Nicolaus lifted their price objective on United Technologies from $122.00 to $124.00 and gave the company 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. United Technologies has an average rating of “Hold” and an average target price of $125.63.
Shares of United Technologies Co. (NYSE UTX) opened at $134.61 on Friday. The stock has a market capitalization of $107,500.00, a price-to-earnings ratio of 20.84, a P/E/G ratio of 2.33 and a beta of 1.07. United Technologies Co. has a 12-month low of $106.85 and a 12-month high of $137.73. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The firm had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 earnings per share. equities analysts forecast that United Technologies Co. will post 6.61 EPS for the current year.
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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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