MainStreet Investment Advisors LLC raised its position in shares of United Technologies Co. (NYSE:UTX) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,383 shares of the conglomerate’s stock after acquiring an additional 469 shares during the period. MainStreet Investment Advisors LLC’s holdings in United Technologies were worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of United Technologies during the 1st quarter worth approximately $25,000. PSI Advisors LLC purchased a new stake in shares of United Technologies during the 4th quarter worth approximately $29,000. Mizuho Securities Co. Ltd. purchased a new stake in United Technologies during the 4th quarter valued at $30,000. Capital Wealth Alliance LLC purchased a new stake in United Technologies during the 4th quarter valued at $30,000. Finally, Savior LLC purchased a new stake in United Technologies during the 4th quarter valued at $32,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.
UTX stock traded down $0.10 during midday trading on Friday, reaching $60.00. The company’s stock had a trading volume of 6,502,019 shares, compared to its average volume of 7,298,222. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a fifty day simple moving average of $61.90 and a two-hundred day simple moving average of $121.09. United Technologies Co. has a 1 year low of $69.02 and a 1 year high of $158.44. The firm has a market capitalization of $52.06 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.38 and a beta of 1.42.
Several analysts recently weighed in on the company. ValuEngine upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Credit Suisse Group decreased their price target on United Technologies from $177.00 to $172.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. They noted that the move was a valuation call. Barclays restated a “buy” rating and set a $150.00 price target on shares of United Technologies in a report on Friday, March 13th. Cowen restated an “outperform” rating and set a $150.00 price target (down previously from $169.00) on shares of United Technologies in a report on Thursday, March 5th. Finally, Argus restated a “buy” rating and set a $170.00 price target on shares of United Technologies in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $163.00.
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.
Further Reading: Circuit Breakers
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