Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of United Technologies Co. (NYSE:UTX) by 75.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,872 shares of the conglomerate’s stock after purchasing an additional 117,910 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in United Technologies were worth $31,791,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in United Technologies by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after acquiring an additional 2,401,795 shares during the period. Harbour Capital Advisors LLC raised its stake in shares of United Technologies by 11,652.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock worth $17,420,000 after buying an additional 2,109,056 shares during the period. Vanguard Group Inc. raised its stake in shares of United Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after buying an additional 848,623 shares during the period. Flossbach Von Storch AG raised its stake in shares of United Technologies by 95.6% during the 2nd quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock worth $197,453,000 after buying an additional 790,496 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of United Technologies by 50.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock worth $274,067,000 after buying an additional 756,600 shares during the period. Hedge funds and other institutional investors own 80.09% of the company’s stock.
In related news, VP Akhil Johri sold 5,979 shares of the firm’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 transaction of $723,638.37. Following the transaction, the vice president now owns 23,295 shares in the company, valued at approximately $2,819,393.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth B. Amato sold 4,341 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the transaction, the executive vice president now owns 29,122 shares in the company, valued at approximately $3,667,042.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,480 shares of company stock worth $1,658,028. Company insiders own 0.16% of the company’s stock.
Several research analysts have recently weighed in on UTX shares. Zacks Investment Research downgraded United Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Royal Bank of Canada upgraded United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Cowen restated a “hold” rating and issued a $120.00 target price on shares of United Technologies in a report on Friday, November 10th. Finally, Sanford C. Bernstein restated a “positive” rating and issued a $153.00 target price (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. United Technologies currently has a consensus rating of “Buy” and a consensus target price of $136.15.
United Technologies Co. (NYSE UTX) traded down $3.71 on Friday, reaching $134.61. The company had a trading volume of 4,627,081 shares, compared to its average volume of 3,800,000. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80. The firm has a market cap of $107,500.00, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 2.29 and a beta of 1.08. United Technologies Co. has a 1 year low of $107.05 and a 1 year high of $139.24.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same quarter last year, the company earned $1.56 EPS. United Technologies’s revenue for the quarter was up 7.0% compared to the same quarter last year. research analysts anticipate that United Technologies Co. will post 7.01 earnings per share for the current year.
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About United Technologies
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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