Pacer Advisors Inc. Raises Position in United Technologies Co. (UTX)
Pacer Advisors Inc. increased its position in United Technologies Co. (NYSE:UTX) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,624 shares of the conglomerate’s stock after purchasing an additional 1,942 shares during the quarter. Pacer Advisors Inc.’s holdings in United Technologies were worth $2,394,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Knowledge Leaders Capital LLC bought a new position in shares of United Technologies during the third quarter valued at $105,000. Tortoise Investment Management LLC lifted its holdings in shares of United Technologies by 5.3% during 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 during the period. Seven Bridges Advisors LLC bought a new position in shares of United Technologies during the second quarter valued at $120,000. Thompson Davis & CO. Inc. lifted its holdings in shares of United Technologies by 750.4% during the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after acquiring an additional 953 shares during the period. Finally, Winfield Associates Inc. lifted its holdings in shares of United Technologies by 2.9% during 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 during the period. 80.07% of the stock is owned by hedge funds and other institutional investors.
United Technologies Co. (NYSE:UTX) opened at $135.90 on Friday. 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 Co. has a twelve month low of $106.85 and a twelve month high of $137.73. The stock has a market capitalization of $108,530.00, a PE ratio of 21.04, a P/E/G ratio of 2.33 and a beta of 1.07.
UTX has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “hold” rating and set a $126.00 price objective on shares of United Technologies in a report on Tuesday, October 10th. Zacks Investment Research cut United Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Cowen reissued a “hold” rating and set a $120.00 price objective on shares of United Technologies in a report on Tuesday, October 24th. Stifel Nicolaus lifted their price objective on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $128.19.
In related news, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Bailey sold 864 shares of United Technologies stock in a transaction dated 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 owns 2,000 shares of the company’s stock, valued at $252,020. The disclosure for this sale can be found here. Insiders sold 16,466 shares of company stock valued at $2,019,274 over the last ninety days. 0.16% of the stock is currently owned by company insiders.
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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