Rhumbline Advisers grew its position in shares of United Technologies Co. (NYSE:UTX) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,285,356 shares of the conglomerate’s stock after purchasing an additional 3,959 shares during the period. Rhumbline Advisers’ holdings in United Technologies were worth $149,204,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UTX. Knowledge Leaders Capital LLC purchased a new position in United Technologies in the third quarter worth $105,000. Tortoise Investment Management LLC grew its position in United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after acquiring an additional 48 shares in the last quarter. Seven Bridges Advisors LLC purchased a new position in United Technologies in the second quarter worth $120,000. Thompson Davis & CO. Inc. grew its position in United Technologies by 750.4% in the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after acquiring an additional 953 shares in the last quarter. Finally, Winfield Associates Inc. grew its position in United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 80.07% of the company’s stock.
Several research firms have weighed in on UTX. Goldman Sachs Group raised shares of United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Cowen reissued a “hold” rating and issued a $120.00 price target on shares of United Technologies in a research note on Tuesday, October 24th. Stifel Nicolaus boosted their price target on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. United Technologies has an average rating of “Hold” and an average price target of $125.63.
United Technologies Co. (UTX) opened at $136.58 on Friday. The company has a market cap of $109,070.00, a PE ratio of 21.14, a PEG ratio of 2.34 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. United Technologies Co. has a one year low of $106.85 and a one year high of $136.58.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the consensus estimate of $1.68 by $0.05. The firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 earnings per share. sell-side analysts predict that United Technologies Co. will post 6.61 EPS for the current year.
In other news, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the transaction, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 827 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,466 shares of company stock valued at $2,019,274. Insiders own 0.16% of the company’s stock.
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United Technologies Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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