Zeke Capital Advisors LLC lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,781 shares of the conglomerate’s stock after buying an additional 208 shares during the quarter. Zeke Capital Advisors LLC’s holdings in United Technologies were worth $3,561,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of UTX. Morgan Stanley grew its stake in United Technologies by 2.0% during the 2nd quarter. Morgan Stanley now owns 11,814,971 shares of the conglomerate’s stock worth $1,538,310,000 after buying an additional 231,073 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of United Technologies by 2.5% during the third quarter. Fisher Asset Management LLC now owns 4,727,841 shares of the conglomerate’s stock worth $645,445,000 after acquiring an additional 117,400 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of United Technologies by 2.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,533,488 shares of the conglomerate’s stock valued at $482,392,000 after acquiring an additional 89,021 shares during the period. Nuveen Asset Management LLC raised its position in United Technologies by 1,510.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock valued at $433,442,000 after purchasing an additional 3,122,355 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in United Technologies by 1.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,480,766 shares of the conglomerate’s stock worth $338,674,000 after purchasing an additional 31,077 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.
In other news, VP Robert J. Bailey sold 1,299 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total value of $193,771.83. Following the sale, the vice president now directly owns 2,600 shares in the company, valued at $387,842. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 27,987 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $147.79, for a total transaction of $4,136,198.73. Following the completion of the sale, the chief executive officer now owns 287,649 shares in the company, valued at $42,511,645.71. The disclosure for this sale can be found here. Insiders have sold a total of 90,810 shares of company stock valued at $13,277,336 over the last 90 days. 0.15% of the stock is currently owned by insiders.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. United Technologies’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.93 earnings per share. Research analysts anticipate that United Technologies Co. will post 8.13 EPS for the current year.
A number of research firms have commented on UTX. Cowen lifted their price objective on shares of United Technologies from $150.00 to $169.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Credit Suisse Group set a $162.00 price objective on United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday, November 28th. UBS Group upped their price target on United Technologies from $157.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. United Technologies presently has a consensus rating of “Buy” and a consensus price target of $160.79.
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.
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