SRS Capital Advisors Inc. grew its stake in shares of United Technologies Co. (NYSE:UTX) by 38.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,757 shares of the conglomerate’s stock after acquiring an additional 487 shares during the period. SRS Capital Advisors Inc.’s holdings in United Technologies were worth $224,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Advocates Investment Management purchased a new stake in United Technologies in the fourth quarter worth about $1,580,000. Laurel Wealth Advisors Inc. lifted its stake in United Technologies by 49.8% in the fourth quarter. Laurel Wealth Advisors Inc. now owns 10,779 shares of the conglomerate’s stock worth $1,375,000 after acquiring an additional 3,582 shares during the period. Belpointe Asset Management LLC lifted its stake in United Technologies by 30.5% in the fourth quarter. Belpointe Asset Management LLC now owns 5,650 shares of the conglomerate’s stock worth $721,000 after acquiring an additional 1,322 shares during the period. Hoylecohen LLC purchased a new stake in United Technologies in the fourth quarter worth about $8,873,000. Finally, Verition Fund Management LLC lifted its stake in United Technologies by 61.9% in the fourth quarter. Verition Fund Management LLC now owns 38,293 shares of the conglomerate’s stock worth $4,885,000 after acquiring an additional 14,640 shares during the period. 81.88% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Robert J. Bailey sold 2,032 shares of the company’s 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 transaction, the vice president now owns 4,900 shares in the company, valued at $661,255. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.
UTX opened at $122.10 on Wednesday. United Technologies Co. has a 52-week low of $109.10 and a 52-week high of $139.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. The stock has a market cap of $98,436.72, a PE ratio of 18.36, a P/E/G ratio of 1.86 and a beta of 1.08.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The firm had revenue of $15.24 billion for the quarter, compared to the consensus estimate of $14.62 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. analysts anticipate that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of United Technologies from a “hold” rating to a “sell” rating in a research note on Friday, April 13th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $146.00 price objective (up from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Cowen reaffirmed a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a research note on Thursday, January 25th. Finally, UBS initiated coverage on shares of United Technologies in a report on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $139.07.
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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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