Infrastructure Capital Advisors LLC purchased a new position in United Technologies Co. (NYSE:UTX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the conglomerate’s stock, valued at approximately $260,000.
A number of other large investors have also bought and sold shares of UTX. Virtus ETF Advisers LLC bought a new position in United Technologies during the second quarter worth $38,000. Blackhawk Capital Partners LLC. increased its stake in United Technologies by 41.3% in the second quarter. Blackhawk Capital Partners LLC. now owns 13,866 shares of the conglomerate’s stock worth $1,805,000 after purchasing an additional 4,051 shares during the period. Chilton Capital Management LLC increased its stake in United Technologies by 172.4% in the second quarter. Chilton Capital Management LLC now owns 5,706 shares of the conglomerate’s stock worth $743,000 after purchasing an additional 3,611 shares during the period. United Capital Financial Advisers LLC increased its stake in United Technologies by 3.1% in the second quarter. United Capital Financial Advisers LLC now owns 316,314 shares of the conglomerate’s stock worth $41,184,000 after purchasing an additional 9,466 shares during the period. Finally, Profund Advisors LLC increased its stake in United Technologies by 1.9% in the second quarter. Profund Advisors LLC now owns 21,915 shares of the conglomerate’s stock worth $2,853,000 after purchasing an additional 404 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.
In other United Technologies news, VP Charles D. Gill sold 26,542 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $131.42, for a total value of $3,488,149.64. Following the completion of the sale, the vice president now owns 103,458 shares of the company’s stock, valued at $13,596,450.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory Hayes sold 19,542 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $133.35, for a total value of $2,605,925.70. Following the completion of the sale, the chief executive officer now directly owns 246,111 shares of the company’s stock, valued at approximately $32,818,901.85. The disclosure for this sale can be found here. In the last three months, insiders sold 60,567 shares of company stock valued at $8,030,281. Corporate insiders own 0.15% of the company’s stock.
A number of analysts have weighed in on the company. Seaport Global Securities upgraded United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Monday, June 10th. Cowen reiterated a “buy” rating and issued a $150.00 target price on shares of United Technologies in a research note on Wednesday, September 4th. Morgan Stanley increased their target price on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Bank of America reiterated a “buy” rating and issued a $195.00 target price (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Finally, William Blair restated a “hold” rating on shares of United Technologies in a research note on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. United Technologies has an average rating of “Buy” and a consensus target price of $152.21.
UTX stock traded up $1.47 during trading on Thursday, reaching $137.42. 760,069 shares of the company traded hands, compared to its average volume of 3,661,692. United Technologies Co. has a 12 month low of $100.48 and a 12 month high of $144.40. The business has a 50 day simple moving average of $130.05 and a 200 day simple moving average of $130.91. The company has a market capitalization of $115.55 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The company had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter last year, the company earned $1.97 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, research analysts forecast that United Technologies Co. will post 8.03 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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