Fiduciary Trust Co. lowered its holdings in United Technologies Co. (NYSE:UTX) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,003 shares of the conglomerate’s stock after selling 13,517 shares during the period. United Technologies makes up about 1.0% of Fiduciary Trust Co.’s portfolio, making the stock its 24th largest holding. Fiduciary Trust Co.’s holdings in United Technologies were worth $30,993,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Knowledge Leaders Capital LLC acquired a new position in shares of United Technologies in the 3rd quarter valued at approximately $105,000. Tortoise Investment Management LLC raised its position in shares of United Technologies by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after buying an additional 48 shares in the last quarter. Seven Bridges Advisors LLC acquired a new position in shares of United Technologies in the 2nd quarter valued at approximately $120,000. Thompson Davis & CO. Inc. raised its position in shares of United Technologies by 750.4% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after buying an additional 953 shares in the last quarter. Finally, Winfield Associates Inc. raised its position in shares of United Technologies by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after buying an additional 29 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.
United Technologies Co. (NYSE UTX) traded up $1.51 on Wednesday, reaching $138.01. 5,909,248 shares of the company’s stock were exchanged, compared to its average volume of 3,780,000. United Technologies Co. has a 52-week low of $106.85 and a 52-week high of $139.24. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. The company has a market cap of $110,210.00, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07.
United Technologies (NYSE:UTX) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The firm had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same period in the previous year, the firm posted $1.56 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. research analysts expect that United Technologies Co. will post 7.01 EPS for the current fiscal year.
In other United Technologies news, EVP Elizabeth B. Amato sold 4,341 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $125.92, for a total transaction of $546,618.72. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert J. Bailey sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. Insiders have sold a total of 16,466 shares of company stock worth $2,019,274 over the last three months. Insiders own 0.16% of the company’s stock.
Several equities analysts have recently commented on the stock. Goldman Sachs Group upgraded shares of United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Cowen restated a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Stifel Nicolaus reiterated a “hold” rating and set a $146.00 price objective (up from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Finally, UBS Group started coverage on shares of United Technologies in a research report on Tuesday, January 23rd. They set a “buy” rating and a $158.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $136.15.
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United Technologies Company 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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