Welch Investments LLC increased its stake in shares of United Technologies Co. (NYSE:UTX) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,274 shares of the conglomerate’s stock after purchasing an additional 2,084 shares during the quarter. United Technologies makes up approximately 3.1% of Welch Investments LLC’s holdings, making the stock its 19th largest holding. Welch Investments LLC’s holdings in United Technologies were worth $4,559,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Connecticut Wealth Management LLC increased its position in United Technologies by 10.1% during the 2nd quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock worth $1,473,000 after purchasing an additional 1,098 shares in the last quarter. Pacer Advisors Inc. increased its position in United Technologies by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock worth $2,281,000 after purchasing an additional 1,447 shares in the last quarter. Stoneridge Investment Partners LLC increased its position in United Technologies by 755.1% during the 2nd quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock worth $4,051,000 after purchasing an additional 29,298 shares in the last quarter. Federated Investors Inc. PA increased its position in United Technologies by 22.2% during the 2nd quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock worth $7,963,000 after purchasing an additional 11,851 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in United Technologies by 136.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 340,295 shares of the conglomerate’s stock worth $41,553,000 after purchasing an additional 196,200 shares in the last quarter. Hedge funds and other institutional investors own 80.07% of the company’s stock.

A number of research firms recently commented on UTX. Goldman Sachs Group upgraded United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Royal Bank of Canada upgraded United Technologies from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Cowen restated a “hold” rating and issued a $120.00 price target on shares of United Technologies in a report on Tuesday, October 24th. Finally, Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $125.63.

In other news, VP Robert J. Bailey sold 636 shares of United Technologies stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $124.35, for a total value of $79,086.60. Following the transaction, the vice president now directly owns 1,500 shares of the company’s stock, valued at approximately $186,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. Insiders sold a total of 16,466 shares of company stock worth $2,019,274 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Shares of United Technologies Co. (NYSE UTX) opened at $133.97 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $106,980.00, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.37 and a beta of 1.07. United Technologies Co. has a fifty-two week low of $106.85 and a fifty-two week high of $137.73.

United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 EPS. equities research analysts forecast that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.

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United Technologies Company 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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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