Brown Advisory Inc. raised its position in shares of United Technologies Co. (NYSE:UTX) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,048,882 shares of the conglomerate’s stock after purchasing an additional 41,961 shares during the quarter. Brown Advisory Inc.’s holdings in United Technologies were worth $111,684,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of UTX. Oregon Public Employees Retirement Fund lifted its holdings in United Technologies by 11,458.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,426,355 shares of the conglomerate’s stock valued at $89,000 after purchasing an additional 9,344,798 shares in the last quarter. BlackRock Inc. lifted its holdings in United Technologies by 13.3% during the fourth quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock valued at $5,753,662,000 after purchasing an additional 6,347,718 shares in the last quarter. Matthew Goff Investment Advisor LLC lifted its holdings in United Technologies by 12,402.9% during the third quarter. Matthew Goff Investment Advisor LLC now owns 4,115,095 shares of the conglomerate’s stock valued at $32,913,000 after purchasing an additional 4,082,182 shares in the last quarter. Findlay Park Partners LLP purchased a new position in United Technologies during the fourth quarter valued at approximately $119,790,000. Finally, Vanguard Group Inc lifted its holdings in United Technologies by 1.9% during the third quarter. Vanguard Group Inc now owns 59,240,301 shares of the conglomerate’s stock valued at $8,282,386,000 after purchasing an additional 1,094,947 shares in the last quarter. 80.83% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on UTX shares. JPMorgan Chase & Co. started coverage on shares of United Technologies in a report on Friday, February 22nd. They issued an “overweight” rating and a $132.00 target price on the stock. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Royal Bank of Canada downgraded shares of United Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $139.00 to $119.00 in a report on Thursday, January 3rd. Barclays lowered their target price on shares of United Technologies from $153.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, December 17th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $149.00 target price on shares of United Technologies in a report on Wednesday, January 23rd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $144.00.
United Technologies stock opened at $135.30 on Friday. The firm has a market cap of $114.53 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. 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 52-week low of $100.48 and a 52-week high of $144.15.
United Technologies (NYSE:UTX) last released 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. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $16.87 billion. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. United Technologies’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 earnings per share. On average, equities research analysts predict that United Technologies Co. will post 7.92 earnings per share for the current fiscal year.
In related news, CEO Robert Kelly Ortberg sold 16,587 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $126.59, for a total transaction of $2,099,748.33. Following the sale, the chief executive officer now owns 70,211 shares of the company’s stock, valued at $8,888,010.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert J. Bailey sold 1,418 shares of the company’s stock in a transaction 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. In the last ninety days, insiders have sold 97,770 shares of company stock worth $12,153,044. 0.15% of the stock is owned by insiders.
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United Technologies Company 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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