Retirement Systems of Alabama trimmed its position in shares of United Technologies Co. (NYSE:UTX) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,400 shares of the conglomerate’s stock after selling 886 shares during the quarter. Retirement Systems of Alabama’s holdings in United Technologies were worth $41,835,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of UTX. Connecticut Wealth Management LLC boosted its stake in United Technologies by 10.1% during the 2nd quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock worth $1,473,000 after purchasing an additional 1,098 shares during the last quarter. Pacer Advisors Inc. raised its holdings in United Technologies by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock valued at $2,281,000 after buying an additional 1,447 shares during the period. Delaney Dennis R raised its holdings in United Technologies by 28.4% in the 2nd quarter. Delaney Dennis R now owns 4,855 shares of the conglomerate’s stock valued at $593,000 after buying an additional 1,075 shares during the period. Stoneridge Investment Partners LLC raised its holdings in United Technologies by 755.1% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock valued at $4,051,000 after buying an additional 29,298 shares during the period. Finally, Federated Investors Inc. PA raised its holdings in United Technologies by 22.2% in the 2nd quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock valued at $7,963,000 after buying an additional 11,851 shares during the period. 80.07% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on UTX shares. Royal Bank of Canada reiterated a “hold” rating and set a $126.00 price target on shares of United Technologies in a research note on Tuesday, October 10th. Zacks Investment Research downgraded United Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Cowen reissued a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a report on Tuesday, October 24th. Stifel Nicolaus increased their price objective on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $125.63.
In related news, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the transaction, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Bailey sold 827 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. Insiders have sold 16,466 shares of company stock worth $2,019,274 over the last ninety days. 0.16% of the stock is owned by insiders.
Shares of United Technologies Co. (NYSE UTX) opened at $134.99 on Friday. United Technologies Co. has a 12 month low of $106.85 and a 12 month high of $136.26. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $107,800.00, a price-to-earnings ratio of 20.90, a PEG ratio of 2.29 and a beta of 1.07.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. The company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. United Technologies’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 earnings per share. research analysts forecast that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.
United Technologies 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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