Seeyond lessened its stake in shares of United Technologies Co. (NYSE:UTX) by 3.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,012 shares of the conglomerate’s stock after selling 432 shares during the period. Seeyond’s holdings in United Technologies were worth $1,564,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Wealth Architects LLC boosted its holdings in shares of United Technologies by 4.3% during the second quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock worth $236,000 after purchasing an additional 75 shares during the period. Patten Group Inc. lifted its position in United Technologies by 0.3% in the 2nd quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock worth $3,643,000 after buying an additional 75 shares in the last quarter. Glenview State Bank Trust DEPT. boosted its stake in shares of United Technologies by 3.0% during the 2nd quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock valued at $331,000 after buying an additional 75 shares during the period. Mcrae Capital Management Inc. grew its holdings in shares of United Technologies by 1.4% during the 2nd quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock valued at $715,000 after acquiring an additional 75 shares in the last quarter. Finally, Heritage Way Advisors LLC grew its holdings in shares of United Technologies by 0.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock valued at $2,409,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Friday, June 14th. Barclays lifted their price objective on United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a research note on Friday, July 19th. Morgan Stanley upped their target price on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Finally, Cowen reaffirmed a “buy” rating and set a $150.00 price target on shares of United Technologies in a research note on Wednesday, September 4th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. United Technologies currently has an average rating of “Buy” and an average target price of $152.21.
NYSE:UTX traded up $1.19 during trading hours on Wednesday, reaching $135.10. The company’s stock had a trading volume of 1,372,743 shares, compared to its average volume of 2,401,246. The company has a market cap of $115.55 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40. The business’s 50-day moving average is $130.04 and its 200-day moving average is $130.87. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74.
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 for the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the prior year, the business posted $1.97 earnings per share. The business’s quarterly revenue was up 17.5% on a year-over-year basis. On average, sell-side analysts predict that United Technologies Co. will post 8.03 EPS for the current fiscal year.
In related news, VP Robert J. Bailey sold 831 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $135.09, for a total transaction of $112,259.79. Following the completion of the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $270,180. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Charles D. Gill sold 26,542 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $131.42, for a total transaction of $3,488,149.64. Following the completion of the transaction, the vice president now owns 103,458 shares in the company, valued at $13,596,450.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,567 shares of company stock valued at $8,030,281. 0.15% of the stock is currently owned by corporate insiders.
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.
Read More: Are sell-side analysts objective?
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.