Patriot Wealth Management Inc. reduced its stake in United Technologies Co. (NYSE:UTX) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,280 shares of the conglomerate’s stock after selling 1,583 shares during the period. Patriot Wealth Management Inc. owned 6,922.37% of United Technologies worth $6,417,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Connecticut Wealth Management LLC lifted its holdings in United Technologies by 10.1% during the second quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock worth $1,473,000 after acquiring an additional 1,098 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in United Technologies by 8.4% during the second quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock worth $2,281,000 after acquiring an additional 1,447 shares in the last quarter. Delaney Dennis R lifted its holdings in United Technologies by 28.4% during the second quarter. Delaney Dennis R now owns 4,855 shares of the conglomerate’s stock worth $593,000 after acquiring an additional 1,075 shares in the last quarter. Stoneridge Investment Partners LLC lifted its holdings in United Technologies by 755.1% during the second quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock worth $4,051,000 after acquiring an additional 29,298 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in United Technologies by 22.2% during the second quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock worth $7,963,000 after acquiring an additional 11,851 shares in the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
UTX has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “hold” rating and set a $126.00 target price on shares of United Technologies in a report on Tuesday, October 10th. Zacks Investment Research lowered United Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Cowen restated a “hold” rating and issued a $120.00 price target on shares of United Technologies in a report on Tuesday, October 24th. Stifel Nicolaus boosted their price target 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 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 a consensus target price of $125.63.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. United Technologies’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 earnings per share. research analysts expect that United Technologies Co. will post 6.61 EPS for the current year.
In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Akhil Johri sold 5,979 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was 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 in the company, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,466 shares of company stock worth $2,019,274. Company insiders own 0.16% of the company’s stock.
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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