Nuveen Asset Management LLC Lowers Stake in United Technologies Co. (UTX)

Nuveen Asset Management LLC lessened its holdings in United Technologies Co. (NYSE:UTX) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 212,660 shares of the conglomerate’s stock after selling 354 shares during the period. Nuveen Asset Management LLC’s holdings in United Technologies were worth $22,644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kentucky Retirement Systems purchased a new stake in United Technologies during the third quarter valued at approximately $7,931,000. Dodge & Cox lifted its position in United Technologies by 25.7% during the third quarter. Dodge & Cox now owns 2,200 shares of the conglomerate’s stock valued at $308,000 after acquiring an additional 450 shares during the last quarter. Signet Investment Advisory Group Inc. purchased a new stake in United Technologies during the fourth quarter valued at approximately $403,000. Lau Associates LLC lifted its position in United Technologies by 21.8% during the fourth quarter. Lau Associates LLC now owns 17,584 shares of the conglomerate’s stock valued at $1,872,000 after acquiring an additional 3,153 shares during the last quarter. Finally, Drexel Morgan & Co. lifted its position in United Technologies by 4.1% during the fourth quarter. Drexel Morgan & Co. now owns 12,530 shares of the conglomerate’s stock valued at $1,334,000 after acquiring an additional 491 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Shares of United Technologies stock opened at $137.00 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.81 and a debt-to-equity ratio of 1.01. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.15. The company has a market cap of $118.14 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.93 and a beta of 1.20.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.42. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The business had revenue of $18.04 billion for the quarter, compared to analyst estimates of $16.87 billion. During the same quarter in the prior year, the business posted $1.60 EPS. United Technologies’s revenue for the quarter was up 15.1% compared to the same quarter last year. Research analysts forecast that United Technologies Co. will post 7.92 EPS for the current year.

In other United Technologies news, EVP Michael R. Dumais sold 9,620 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total transaction of $1,145,934.40. Following the transaction, the executive vice president now owns 35,627 shares in the company, valued at approximately $4,243,888.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Bailey sold 1,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $126.20, for a total transaction of $178,951.60. The disclosure for this sale can be found here. Insiders have sold a total of 97,770 shares of company stock worth $12,153,044 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of United Technologies in a research report on Friday, February 22nd. They set an “overweight” rating and a $132.00 target price for the company. Goldman Sachs Group raised shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 target price for the company in a research report on Friday, February 1st. Royal Bank of Canada increased their target price on shares of United Technologies to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, January 24th. Finally, Bank of America reissued a “buy” rating and set a $185.00 target price on shares of United Technologies in a research report on Thursday, January 24th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and a consensus target price of $144.00.

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

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