Relyea Zuckerberg Hanson LLC acquired a new position in shares of United Technologies Co. (NYSE:UTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,448 shares of the conglomerate’s stock, valued at approximately $217,000.
A number of other institutional investors have also modified their holdings of UTX. Phocas Financial Corp. bought a new position in United Technologies in the second quarter valued at approximately $25,000. Transamerica Financial Advisors Inc. acquired a new position in shares of United Technologies in the second quarter valued at approximately $30,000. Accurate Investment Solutions Inc. bought a new stake in shares of United Technologies during the fourth quarter worth $30,000. American National Bank bought a new stake in shares of United Technologies during the third quarter worth $34,000. Finally, Financial Management Professionals Inc. raised its holdings in shares of United Technologies by 3,600.0% during the third quarter. Financial Management Professionals Inc. now owns 259 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 252 shares during the period. 80.87% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on UTX. Cowen boosted their price objective on shares of United Technologies from $150.00 to $169.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Credit Suisse Group set a $162.00 target price on United Technologies and gave the stock a “buy” rating in a report on Friday, October 25th. UBS Group lifted their price target on United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Wolfe Research set a $152.00 price target on United Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 28th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $160.79.
In related news, VP Robert J. Bailey sold 1,299 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $149.17, for a total transaction of $193,771.83. Following the completion of the transaction, the vice president now directly owns 2,600 shares of the company’s stock, valued at $387,842. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 27,987 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $147.79, for a total value of $4,136,198.73. Following the completion of the transaction, the chief executive officer now owns 287,649 shares of the company’s stock, valued at $42,511,645.71. The disclosure for this sale can be found here. Insiders sold a total of 90,810 shares of company stock valued at $13,277,336 in the last 90 days. 0.15% of the stock is owned by corporate insiders.
Shares of UTX opened at $151.96 on Thursday. The stock has a market capitalization of $131.10 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.98 and a beta of 1.22. United Technologies Co. has a 12 month low of $110.30 and a 12 month high of $154.65. The firm has a fifty day simple moving average of $149.60 and a 200 day simple moving average of $139.17. The company has a current ratio of 1.06, a quick ratio of 0.75 and a debt-to-equity ratio of 0.93.
United Technologies (NYSE:UTX) last issued 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. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The firm had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.31 billion. During the same period in the previous year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, research analysts predict that United Technologies Co. will post 8.13 earnings per share for the current fiscal year.
About United Technologies
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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