Viking Global Investors LP increased its position in United Technologies Co. (NYSE:UTX) by 42.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,963,163 shares of the conglomerate’s stock after buying an additional 1,784,355 shares during the quarter. United Technologies accounts for approximately 4.7% of Viking Global Investors LP’s investment portfolio, making the stock its 4th largest position. Viking Global Investors LP owned approximately 0.75% of United Technologies worth $760,721,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of United Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after buying an additional 848,623 shares during the period. BlackRock Inc. increased its stake in shares of United Technologies by 1.8% in the fourth quarter. BlackRock Inc. now owns 46,850,302 shares of the conglomerate’s stock valued at $5,976,695,000 after buying an additional 822,595 shares during the period. FMR LLC increased its stake 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 valued at $2,514,316,000 after buying an additional 2,401,795 shares during the period. Capital Research Global Investors increased its stake in shares of United Technologies by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after buying an additional 304,989 shares during the period. Finally, Geode Capital Management LLC increased its position in United Technologies by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 7,665,846 shares of the conglomerate’s stock valued at $975,815,000 after purchasing an additional 139,345 shares during the period. 81.89% of the stock is owned by institutional investors.
UTX has been the subject of a number of recent analyst reports. Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Cowen reissued a “hold” rating and set a $141.00 target price on shares of United Technologies in a research report on Sunday, February 11th. Sanford C. Bernstein reissued a “positive” rating and set a $153.00 target price (up previously from $135.00) on shares of United Technologies in a research report on Tuesday, January 30th. Barclays initiated coverage on shares of United Technologies in a research report on Thursday, February 15th. They set an “overweight” rating and a $157.00 target price for the company. Finally, Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a research report on Saturday, January 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. United Technologies has an average rating of “Buy” and a consensus price target of $139.07.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.95, for a total transaction of $274,218.40. Following the transaction, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.
United Technologies stock opened at $123.08 on Friday. The company has a market cap of $99,052.55, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. United Technologies Co. has a 52-week low of $109.10 and a 52-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 posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. The firm had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.56 EPS. sell-side analysts forecast that United Technologies Co. will post 7.04 EPS for the current year.
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United Technologies Profile
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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