King Luther Capital Management Corp lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 101.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 238,357 shares of the conglomerate’s stock after buying an additional 120,139 shares during the quarter. King Luther Capital Management Corp’s holdings in United Technologies were worth $30,407,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in UTX. Knowledge Leaders Capital LLC acquired a new stake in United Technologies in the 3rd quarter valued at $105,000. Wealthcare Advisory Partners LLC acquired a new stake in United Technologies in the 3rd quarter valued at $118,000. Thompson Davis & CO. Inc. grew its position in United Technologies by 750.4% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after purchasing an additional 953 shares during the period. Taylor Hoffman Wealth Management acquired a new stake in United Technologies in the 4th quarter valued at $140,000. Finally, Rowland & Co. Investment Counsel ADV grew its position in United Technologies by 0.3% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 3 shares during the period. 81.89% of the stock is owned by institutional investors.
Several analysts recently issued reports on UTX shares. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a research report on Saturday, January 20th. Goldman Sachs raised shares of United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. UBS started coverage on shares of United Technologies in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 price target for the company. Argus raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Finally, ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $139.07.
UTX opened at $122.45 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80. The firm has a market cap of $97,748.91, a price-to-earnings ratio of 18.41, a PEG ratio of 1.85 and a beta of 1.08. United Technologies Co. has a 1 year low of $109.10 and a 1 year high of $139.24.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.04. The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.56 EPS. analysts expect that United Technologies Co. will post 7.04 EPS for the current fiscal year.
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About United Technologies
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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