Arthur M. Cohen & Associates LLC lessened its stake in shares of United Technologies Co. (NYSE:UTX) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,478 shares of the conglomerate’s stock after selling 705 shares during the period. United Technologies accounts for approximately 2.4% of Arthur M. Cohen & Associates LLC’s investment portfolio, making the stock its 10th biggest position. Arthur M. Cohen & Associates LLC’s holdings in United Technologies were worth $7,709,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Phocas Financial Corp. purchased a new stake in shares of United Technologies in the 2nd quarter valued at approximately $25,000. Transamerica Financial Advisors Inc. purchased a new position in shares of United Technologies during the 2nd quarter worth approximately $30,000. Accurate Investment Solutions Inc. purchased a new position in shares of United Technologies during the 4th quarter worth approximately $30,000. American National Bank purchased a new position in shares of United Technologies during the 3rd quarter worth approximately $34,000. Finally, Financial Management Professionals Inc. boosted its position in shares of United Technologies by 3,600.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 259 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 252 shares during the period. Hedge funds and other institutional investors own 80.88% of the company’s stock.
In other news, insider Robert F. Leduc sold 33,175 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $147.01, for a total value of $4,877,056.75. Following the sale, the insider now directly owns 96,270 shares in the company, valued at approximately $14,152,652.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Bailey sold 1,299 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total transaction of $193,771.83. Following the completion of the sale, the vice president now owns 2,600 shares in the company, valued at $387,842. The disclosure for this sale can be found here. Insiders sold a total of 90,810 shares of company stock worth $13,277,336 over the last 90 days. Company insiders own 0.15% of the company’s stock.
A number of equities analysts recently weighed in on UTX shares. Cowen increased their price objective on shares of United Technologies from $150.00 to $169.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. 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. 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. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 28th. Finally, Sanford C. Bernstein raised their price target on shares of United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $160.08.
Shares of UTX stock opened at $153.65 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 52 week low of $108.62 and a 52 week high of $154.65. The stock has a market capitalization of $132.44 billion, a PE ratio of 20.19, a P/E/G ratio of 2.00 and a beta of 1.22. The firm has a 50 day moving average of $149.11 and a two-hundred day moving average of $138.49.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.31 billion. During the same quarter last year, the company posted $1.93 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. Analysts expect that United Technologies Co. will post 8.13 EPS for the current fiscal 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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