Point72 Hong Kong Ltd purchased a new position in United Technologies Co. (NYSE:UTX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,135 shares of the conglomerate’s stock, valued at approximately $517,000.
A number of other large investors also recently bought and sold shares of UTX. Morningstar Investment Services LLC boosted its holdings in United Technologies by 6.3% during the first quarter. Morningstar Investment Services LLC now owns 261,808 shares of the conglomerate’s stock worth $32,941,000 after purchasing an additional 15,624 shares during the last quarter. Grassi Investment Management purchased a new position in United Technologies during the second quarter worth about $7,044,000. Victory Capital Management Inc. boosted its holdings in United Technologies by 189.6% during the second quarter. Victory Capital Management Inc. now owns 109,588 shares of the conglomerate’s stock worth $13,701,000 after purchasing an additional 71,753 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in United Technologies by 0.5% during the second quarter. Jones Financial Companies Lllp now owns 96,047 shares of the conglomerate’s stock worth $12,009,000 after purchasing an additional 502 shares during the last quarter. Finally, Sun Life Financial INC boosted its holdings in United Technologies by 546.5% during the second quarter. Sun Life Financial INC now owns 6,265 shares of the conglomerate’s stock worth $784,000 after purchasing an additional 5,296 shares during the last quarter. Institutional investors and hedge funds own 82.05% of the company’s stock.
In other United Technologies news, VP Robert J. Bailey sold 828 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total value of $111,573.00. Following the completion of the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $269,500. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Charles D. Gill sold 14,255 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the completion of the sale, the vice president now directly owns 55,029 shares of the company’s stock, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last three months, insiders sold 18,511 shares of company stock valued at $2,521,974. Corporate insiders own 0.17% of the company’s stock.
Several research firms recently weighed in on UTX. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Tuesday, May 22nd. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a report on Friday. Wolfe Research began coverage on shares of United Technologies in a report on Wednesday, June 27th. They set an “outperform” rating on the stock. Morgan Stanley assumed coverage on shares of United Technologies in a report on Friday, June 15th. They set an “overweight” rating and a $160.00 price target on the stock. Finally, Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $146.78.
United Technologies stock opened at $137.80 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. The company has a market cap of $107.12 billion, a P/E ratio of 20.72, a PEG ratio of 2.03 and a beta of 1.01. United Technologies Co. has a 1-year low of $112.65 and a 1-year high of $139.24.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The business had revenue of $16.71 billion during the quarter, compared to analysts’ expectations of $16.26 billion. During the same quarter in the previous year, the company earned $1.85 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. research analysts expect that United Technologies Co. will post 7.23 EPS for the current year.
United Technologies Company 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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