First Financial Bank Trust Division grew its stake in United Technologies Co. (NYSE:UTX) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,733 shares of the conglomerate’s stock after purchasing an additional 862 shares during the period. First Financial Bank Trust Division’s holdings in United Technologies were worth $4,612,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Tortoise Investment Management LLC lifted its position in shares of United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares in the last quarter. Seven Bridges Advisors LLC purchased a new stake in shares of United Technologies in the second quarter valued at $120,000. Winfield Associates Inc. lifted its position in shares of United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after acquiring an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of United Technologies in the second quarter valued at $131,000. Finally, Alexandria Capital LLC lifted its position in shares of United Technologies by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares in the last quarter. 80.07% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Royal Bank of Canada set a $126.00 target price on United Technologies and gave the stock a “hold” rating in a research report on Sunday, November 12th. Cowen reiterated a “hold” rating and set a $120.00 target price on shares of United Technologies in a research report on Tuesday, October 24th. Finally, Stifel Nicolaus increased their target price on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. United Technologies presently has a consensus rating of “Hold” and an average target price of $125.63.
In related news, EVP Elizabeth B. Amato sold 4,341 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the sale, the executive vice president now owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $252,020. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,466 shares of company stock worth $2,019,274. 0.16% of the stock is currently owned by company insiders.
United Technologies Co. (NYSE UTX) traded up $1.59 during mid-day trading on Friday, hitting $136.58. The stock had a trading volume of 5,196,600 shares, compared to its average volume of 3,480,000. United Technologies Co. has a fifty-two week low of $106.85 and a fifty-two week high of $136.58. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $109,070.00, a price-to-earnings ratio of 21.14, a P/E/G ratio of 2.29 and a beta of 1.07.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same quarter last year, the firm earned $1.76 EPS. United Technologies’s quarterly revenue was up 4.9% on a year-over-year basis. research analysts expect that United Technologies Co. will post 6.61 EPS for the current fiscal year.
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About United Technologies
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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