Van Cleef Asset Management Inc decreased its position in shares of United Technologies Co. (NYSE:UTX) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,882 shares of the conglomerate’s stock after selling 112 shares during the quarter. Van Cleef Asset Management Inc’s holdings in United Technologies were worth $1,807,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in United Technologies in the 2nd quarter worth about $260,000. Virtus ETF Advisers LLC bought a new position in United Technologies in the 2nd quarter worth about $38,000. Blackhawk Capital Partners LLC. boosted its stake in United Technologies by 41.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 13,866 shares of the conglomerate’s stock worth $1,805,000 after purchasing an additional 4,051 shares during the period. Chilton Capital Management LLC raised its holdings in shares of United Technologies by 172.4% in the 2nd quarter. Chilton Capital Management LLC now owns 5,706 shares of the conglomerate’s stock valued at $743,000 after acquiring an additional 3,611 shares in the last quarter. Finally, United Capital Financial Advisers LLC raised its holdings in shares of United Technologies by 3.1% in the 2nd quarter. United Capital Financial Advisers LLC now owns 316,314 shares of the conglomerate’s stock valued at $41,184,000 after acquiring an additional 9,466 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.
A number of equities analysts recently weighed in on UTX shares. Morgan Stanley raised their price objective on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Monday, June 10th. Zacks Investment Research cut United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective on the stock. in a report on Friday, July 19th. Barclays raised their price objective on United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, William Blair restated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. United Technologies currently has a consensus rating of “Buy” and a consensus target price of $152.21.
In other news, VP Robert J. Bailey sold 831 shares of United Technologies stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $135.09, for a total value of $112,259.79. Following the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $270,180. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth B. Amato sold 4,298 shares of United Technologies stock in a transaction that occurred on Monday, July 29th. The stock was 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 owns 30,847 shares in the company, valued at $4,186,246.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,567 shares of company stock worth $8,030,281. 0.15% of the stock is owned by corporate insiders.
UTX traded up $0.87 on Friday, hitting $138.33. 315,077 shares of the company were exchanged, compared to its average volume of 2,424,325. The firm has a fifty day simple moving average of $130.05 and a two-hundred day simple moving average of $130.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. United Technologies Co. has a 12 month low of $100.48 and a 12 month high of $144.40. The stock has a market capitalization of $115.55 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.89 and a beta of 1.21.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same period last year, the company earned $1.97 EPS. United Technologies’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts expect that United Technologies Co. will post 8.03 earnings per share for the current year.
About United Technologies
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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