Adalta Capital Management LLC Acquires New Stake in United Technologies Co. (UTX)

Adalta Capital Management LLC acquired a new position in United Technologies Co. (NYSE:UTX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,300 shares of the conglomerate’s stock, valued at approximately $163,000.

Other hedge funds also recently bought and sold shares of the company. Credit Agricole S A increased its position in shares of United Technologies by 101.4% in the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after purchasing an additional 436 shares during the last quarter. Silvant Capital Management LLC bought a new position in United Technologies during the first quarter valued at approximately $113,000. Jolley Asset Management LLC bought a new position in United Technologies during the second quarter valued at approximately $114,000. Fort L.P. bought a new position in United Technologies during the second quarter valued at approximately $120,000. Finally, WP Advisors LLC bought a new position in United Technologies during the second quarter valued at approximately $126,000. Institutional investors own 82.05% of the company’s stock.

Shares of NYSE UTX opened at $137.76 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.82. United Technologies Co. has a one year low of $112.65 and a one year high of $139.24. The company has a market cap of $107.12 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $16.71 billion for the quarter, compared to analysts’ expectations of $16.26 billion. During the same quarter last year, the business earned $1.85 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. sell-side analysts predict that United Technologies Co. will post 7.23 EPS for the current fiscal year.

In other news, CFO Akhil Johri sold 3,428 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total value of $465,590.96. Following the transaction, the chief financial officer now owns 43,403 shares in the company, valued at $5,894,995.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 828 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $269,500. The disclosure for this sale can be found here. Insiders sold 18,511 shares of company stock worth $2,521,974 in the last 90 days. Company insiders own 0.17% of the company’s stock.

A number of research analysts have commented on UTX shares. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group set a $157.00 price target on shares of United Technologies and gave the company a “buy” rating in a research report on Tuesday, July 10th. Wolfe Research started coverage on shares of United Technologies in a research report on Wednesday, June 27th. They set an “outperform” rating on the stock. Finally, Morgan Stanley started coverage on shares of United Technologies in a research report on Friday, June 15th. They set an “overweight” rating and a $160.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. United Technologies presently has a consensus rating of “Buy” and an average target price of $146.78.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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