Wooster Corthell Wealth Management Inc. purchased a new stake in United Technologies Corporation (NYSE:UTX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,842 shares of the conglomerate’s stock, valued at approximately $225,000.
Other large investors have also made changes to their positions in the company. PGGM Investments raised its holdings in United Technologies Corporation by 52.4% during the second quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock worth $91,486,000 after purchasing an additional 257,582 shares in the last quarter. Huntington National Bank grew its position in United Technologies Corporation by 3.7% during the second quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock worth $34,744,000 after buying an additional 10,025 shares during the period. Private Wealth Advisors Inc. grew its position in United Technologies Corporation by 14.9% during the first quarter. Private Wealth Advisors Inc. now owns 23,551 shares of the conglomerate’s stock worth $2,643,000 after buying an additional 3,051 shares during the period. Pioneer Investment Management Inc. grew its position in United Technologies Corporation by 2.1% during the first quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock worth $137,324,000 after buying an additional 25,625 shares during the period. Finally, Smith Moore & CO. grew its position in United Technologies Corporation by 11.7% during the first quarter. Smith Moore & CO. now owns 2,701 shares of the conglomerate’s stock worth $303,000 after buying an additional 282 shares during the period. 78.85% of the stock is owned by institutional investors and hedge funds.
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A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Cowen and Company restated a “buy” rating and set a $127.00 target price on shares of United Technologies Corporation in a research report on Tuesday, July 25th. BidaskClub downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $138.00 price target (up previously from $132.00) on shares of United Technologies Corporation in a research note on Monday, July 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a research note on Friday, July 7th. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. United Technologies Corporation has a consensus rating of “Hold” and a consensus target price of $124.48.
Shares of United Technologies Corporation (NYSE UTX) traded down 0.04% on Friday, reaching $113.10. 4,750,733 shares of the company were exchanged. The stock has a 50 day moving average price of $116.03 and a 200-day moving average price of $117.52. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The stock has a market capitalization of $90.34 billion, a P/E ratio of 17.23 and a beta of 1.05.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. The firm had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. On average, equities analysts expect that United Technologies Corporation will post $6.57 EPS for the current fiscal year.
About United Technologies Corporation
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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