Founders Capital Management LLC decreased its holdings in United Technologies Co. (NYSE:UTX) by 1.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,220 shares of the conglomerate’s stock after selling 794 shares during the period. United Technologies makes up about 3.2% of Founders Capital Management LLC’s holdings, making the stock its 12th biggest holding. Founders Capital Management LLC’s holdings in United Technologies were worth $8,954,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of United Technologies by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 68,834,966 shares of the conglomerate’s stock valued at $8,962,313,000 after purchasing an additional 777,327 shares in the last quarter. Morgan Stanley boosted its stake in shares of United Technologies by 2.0% in the 2nd quarter. Morgan Stanley now owns 11,814,971 shares of the conglomerate’s stock valued at $1,538,310,000 after purchasing an additional 231,073 shares in the last quarter. Fisher Asset Management LLC boosted its position in United Technologies by 3.4% during the 2nd quarter. Fisher Asset Management LLC now owns 4,610,441 shares of the conglomerate’s stock valued at $600,279,000 after buying an additional 151,889 shares during the period. Clearbridge Investments LLC boosted its position in United Technologies by 170.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after buying an additional 2,503,654 shares during the period. Finally, Jensen Investment Management Inc. boosted its position in United Technologies by 24.7% during the 2nd quarter. Jensen Investment Management Inc. now owns 3,968,549 shares of the conglomerate’s stock valued at $516,705,000 after buying an additional 785,493 shares during the period. 80.68% of the stock is owned by institutional investors.
In other news, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the sale, the executive vice president now directly owns 30,847 shares of the company’s stock, valued at approximately $4,186,246.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Elizabeth B. Amato sold 4,113 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $137.18, for a total transaction of $564,221.34. Following the completion of the sale, the executive vice president now directly owns 31,501 shares of the company’s stock, valued at $4,321,307.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,123 shares of company stock valued at $13,787,015. Corporate insiders own 0.15% of the company’s stock.
Shares of NYSE:UTX traded up $1.17 on Wednesday, hitting $131.96. The company had a trading volume of 2,164,112 shares, compared to its average volume of 3,558,914. The firm’s 50-day simple moving average is $132.63 and its two-hundred day simple moving average is $132.17. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.40. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $114.50 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.32 and a beta of 1.21.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The firm had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. During the same period last year, the company posted $1.97 EPS. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts anticipate that United Technologies Co. will post 8.03 EPS for the current year.
Several equities research analysts have weighed in on UTX shares. William Blair reissued a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Credit Suisse Group started coverage on shares of United Technologies in a research report on Thursday, October 3rd. They set an “outperform” rating and a $164.00 price target for the company. Wolfe Research set a $152.00 price target on shares of United Technologies and gave the company a “buy” rating in a research report on Wednesday, September 18th. Bank of America reissued a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Finally, Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. United Technologies currently has an average rating of “Buy” and a consensus target price of $153.38.
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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