United Technologies Co. (NYSE:UTX) Position Cut by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC trimmed its stake in United Technologies Co. (NYSE:UTX) by 6.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,034 shares of the conglomerate’s stock after selling 268 shares during the quarter. Peddock Capital Advisors LLC’s holdings in United Technologies were worth $604,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of UTX. Truewealth LLC grew its holdings in United Technologies by 4.2% during the fourth quarter. Truewealth LLC now owns 1,614 shares of the conglomerate’s stock worth $242,000 after acquiring an additional 65 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in United Technologies by 2.2% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the conglomerate’s stock worth $447,000 after acquiring an additional 71 shares during the period. Eads & Heald Wealth Management grew its holdings in United Technologies by 0.5% during the third quarter. Eads & Heald Wealth Management now owns 14,267 shares of the conglomerate’s stock worth $1,948,000 after acquiring an additional 72 shares during the period. Landmark Bank grew its holdings in United Technologies by 0.4% during the third quarter. Landmark Bank now owns 19,465 shares of the conglomerate’s stock worth $2,658,000 after acquiring an additional 78 shares during the period. Finally, Weatherly Asset Management L. P. grew its holdings in United Technologies by 2.4% during the fourth quarter. Weatherly Asset Management L. P. now owns 3,268 shares of the conglomerate’s stock worth $489,000 after acquiring an additional 78 shares during the period. Institutional investors own 80.91% of the company’s stock.

A number of research analysts recently issued reports on the company. 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. JPMorgan Chase & Co. raised their price target 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. Cowen reissued a “buy” rating and set a $169.00 price target on shares of United Technologies in a research report on Wednesday. UBS Group raised their price target on shares of United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Credit Suisse Group set a $162.00 price target on shares of United Technologies and gave the company a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $160.79.

In related news, insider Robert F. Leduc sold 33,175 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $147.01, for a total transaction of $4,877,056.75. Following the transaction, the insider now directly owns 96,270 shares in the company, valued at approximately $14,152,652.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 1,299 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $149.17, for a total transaction of $193,771.83. Following the transaction, the vice president now owns 2,600 shares in the company, valued at $387,842. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,015 shares of company stock worth $10,163,321. Insiders own 0.15% of the company’s stock.

UTX stock traded down $0.95 during mid-day trading on Friday, hitting $152.85. The company had a trading volume of 1,724,578 shares, compared to its average volume of 2,619,403. The company has a market capitalization of $132.76 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 2.01 and a beta of 1.22. United Technologies Co. has a 12-month low of $113.77 and a 12-month high of $155.53. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $150.73 and a 200 day moving average price of $140.08.

United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, topping the consensus estimate of $2.03 by $0.18. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.31 billion. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.93 EPS. As a group, analysts expect that United Technologies Co. will post 8.13 EPS for the current year.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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