American National Bank increased its stake in shares of United Technologies Corporation (NYSE:UTX) by 44.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,666 shares of the conglomerate’s stock after buying an additional 821 shares during the quarter. American National Bank’s holdings in United Technologies Corporation were worth $326,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in UTX. Swiss National Bank lifted its position in United Technologies Corporation by 25.2% during the first quarter. Swiss National Bank now owns 2,771,721 shares of the conglomerate’s stock worth $311,015,000 after buying an additional 557,300 shares in the last quarter. American Century Companies Inc. lifted its position in United Technologies Corporation by 15.8% during the first quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock worth $384,887,000 after buying an additional 468,515 shares in the last quarter. Karp Capital Management Corp purchased a new position in United Technologies Corporation during the first quarter worth approximately $40,211,000. UBS Asset Management Americas Inc. lifted its position in United Technologies Corporation by 11.8% during the first quarter. UBS Asset Management Americas Inc. now owns 2,858,758 shares of the conglomerate’s stock worth $320,781,000 after buying an additional 301,484 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in United Technologies Corporation by 841.0% during the first quarter. Bank of Nova Scotia now owns 262,411 shares of the conglomerate’s stock worth $29,445,000 after buying an additional 234,525 shares in the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.
Several equities research analysts have issued reports on UTX shares. Bank of America Corporation reissued a “buy” rating and set a $140.00 target price on shares of United Technologies Corporation in a research note on Wednesday, September 6th. Deutsche Bank AG cut their target price on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Wednesday, September 6th. Vertical Research cut United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research note on Tuesday, September 5th. Cowen and Company cut United Technologies Corporation from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $127.00 to $120.00 in a research note on Wednesday, September 6th. Finally, Zacks Investment Research cut United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $124.48.
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United Technologies Corporation (NYSE:UTX) traded down 0.05% on Friday, reaching $113.08. The company had a trading volume of 6,529,563 shares. The firm has a 50-day moving average of $115.87 and a 200-day moving average of $117.52. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The stock has a market capitalization of $90.33 billion, a P/E ratio of 17.22 and a beta of 1.05.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the firm earned $1.82 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.
United Technologies Corporation Company Profile
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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