IBM Retirement Fund cut its position in United Technologies Co. (NYSE:UTX) by 11.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,909 shares of the conglomerate’s stock after selling 2,068 shares during the quarter. IBM Retirement Fund’s holdings in United Technologies were worth $1,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UTX. BTR Capital Management Inc. raised its position in shares of United Technologies by 0.4% during the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after buying an additional 375 shares in the last quarter. Squar Milner Financial Services LLC raised its position in shares of United Technologies by 13.5% during the 2nd quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock valued at $418,000 after buying an additional 397 shares in the last quarter. Ascension Asset Management LLC raised its position in shares of United Technologies by 2.6% during the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock valued at $1,972,000 after buying an additional 400 shares in the last quarter. FCG Advisors LLC raised its position in shares of United Technologies by 12.3% during the 2nd quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock valued at $460,000 after buying an additional 403 shares in the last quarter. Finally, Wells Trecaso Financial Group LLC raised its position in shares of United Technologies by 1.3% during the 2nd quarter. Wells Trecaso Financial Group LLC now owns 30,618 shares of the conglomerate’s stock valued at $3,828,000 after buying an additional 405 shares in the last quarter. Institutional investors and hedge funds own 82.05% of the company’s stock.

Several research firms have recently weighed in on UTX. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. UBS Group began coverage on shares of United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating on the stock. Morgan Stanley began coverage on shares of United Technologies in a research report on Friday, June 15th. They issued an “overweight” rating and a $160.00 target price on the stock. Wolfe Research began coverage on shares of United Technologies in a research report on Wednesday, June 27th. They issued an “outperform” rating on the stock. Finally, ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. United Technologies has an average rating of “Buy” and a consensus price target of $146.78.

In other United Technologies news, CFO Akhil Johri sold 3,428 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total value of $465,590.96. Following the sale, the chief financial officer now owns 43,403 shares of the company’s stock, valued at approximately $5,894,995.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert J. Bailey sold 828 shares of the firm’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $269,500. The disclosure for this sale can be found here. In the last three months, insiders sold 18,511 shares of company stock worth $2,521,974. Insiders own 0.17% of the company’s stock.

Shares of NYSE:UTX opened at $135.52 on Friday. The firm has a market capitalization of $106.90 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01. United Technologies Co. has a 52 week low of $110.10 and a 52 week high of $139.24. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46.

United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. The business had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 EPS. equities analysts forecast that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.

United Technologies Company Profile

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

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