Tocqueville Asset Management L.P. trimmed its holdings in shares of United Technologies Co. (NYSE:UTX) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 110,825 shares of the conglomerate’s stock after selling 2,615 shares during the period. Tocqueville Asset Management L.P.’s holdings in United Technologies were worth $14,138,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in UTX. Almanack Investment Partners LLC. acquired a new position in United Technologies in the 4th quarter worth $103,000. Knowledge Leaders Capital LLC acquired a new position in United Technologies in the 3rd quarter worth $105,000. Wealthcare Advisory Partners LLC acquired a new position in United Technologies in the 3rd quarter worth $118,000. Thompson Davis & CO. Inc. lifted its holdings in United Technologies by 750.4% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after buying an additional 953 shares in the last quarter. Finally, Taylor Hoffman Wealth Management acquired a new position in United Technologies in the 4th quarter worth $140,000. 81.89% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the sale, the vice president now owns 4,900 shares in the company, valued at $661,255. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.
UTX opened at $124.80 on Thursday. The stock has a market cap of $99,020.55, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. United Technologies Co. has a fifty-two week low of $109.10 and a fifty-two week high of $139.24. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.04. The firm had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. United Technologies’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share. sell-side analysts predict that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
UTX has been the topic of a number of recent analyst reports. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Cowen restated a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research note on Sunday, February 11th. Sanford C. Bernstein restated a “positive” rating and issued a $153.00 target price (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Barclays assumed coverage on shares of United Technologies in a research note on Thursday, February 15th. They issued an “overweight” rating and a $157.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a research note on Saturday, January 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $139.07.
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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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