HighPoint Advisor Group LLC Reduces Position in United Technologies Co. (UTX)
HighPoint Advisor Group LLC reduced its position in shares of United Technologies Co. (NYSE:UTX) by 20.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,408 shares of the conglomerate’s stock after selling 2,475 shares during the quarter. HighPoint Advisor Group LLC’s holdings in United Technologies were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Curbstone Financial Management Corp grew its stake in United Technologies by 2.3% during the 2nd quarter. Curbstone Financial Management Corp now owns 10,137 shares of the conglomerate’s stock worth $1,238,000 after buying an additional 225 shares during the last quarter. Trust Co grew its stake in United Technologies by 0.3% during the 1st quarter. Trust Co now owns 21,837 shares of the conglomerate’s stock worth $2,450,000 after buying an additional 65 shares during the last quarter. Stillwater Capital Advisors LLC grew its stake in United Technologies by 1.6% during the 2nd quarter. Stillwater Capital Advisors LLC now owns 101,462 shares of the conglomerate’s stock worth $12,390,000 after buying an additional 1,555 shares during the last quarter. Beacon Financial Group grew its stake in United Technologies by 4.6% during the 2nd quarter. Beacon Financial Group now owns 8,189 shares of the conglomerate’s stock worth $996,000 after buying an additional 357 shares during the last quarter. Finally, First Command Bank grew its stake in United Technologies by 4.3% during the 2nd quarter. First Command Bank now owns 3,728 shares of the conglomerate’s stock worth $456,000 after buying an additional 155 shares during the last quarter. 80.07% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the completion of the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $252,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the transaction, the vice president now directly owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. In the last three months, insiders sold 16,466 shares of company stock valued at $2,019,274. Company insiders own 0.16% of the company’s stock.
UTX has been the subject of a number of recent research reports. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Royal Bank of Canada set a $126.00 price objective on United Technologies and gave the stock a “hold” rating in a research note on Sunday, November 12th. Cowen restated a “hold” rating and set a $120.00 price objective on shares of United Technologies in a research note on Tuesday, October 24th. Finally, Stifel Nicolaus upped their price objective on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $125.63.
United Technologies Co. (UTX) opened at $136.58 on Monday. United Technologies Co. has a 52 week low of $106.85 and a 52 week high of $136.58. The stock has a market capitalization of $109,070.00, a price-to-earnings ratio of 21.14, a PEG ratio of 2.37 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The company had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter in the prior year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. research analysts expect that United Technologies Co. will post 6.61 EPS for the current year.
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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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