SNS Financial Group LLC Invests $240,000 in United Technologies Corporation (NYSE:UTX) Stock

SNS Financial Group LLC acquired a new position in United Technologies Corporation (NYSE:UTX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,131 shares of the conglomerate’s stock, valued at approximately $240,000.

A number of other hedge funds also recently bought and sold shares of the stock. Alexandria Capital LLC lifted its holdings in United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after purchasing an additional 4 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in United Technologies Corporation by 0.3% in the 1st quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock valued at $281,000 after acquiring an additional 7 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its holdings in United Technologies Corporation by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 1,780 shares of the conglomerate’s stock valued at $200,000 after acquiring an additional 9 shares during the last quarter. Kissinger Financial Services LLC lifted its holdings in United Technologies Corporation by 0.6% in the 1st quarter. Kissinger Financial Services LLC now owns 2,084 shares of the conglomerate’s stock valued at $234,000 after acquiring an additional 12 shares during the last quarter. Finally, Hudock Capital Group LLC lifted its holdings in United Technologies Corporation by 0.5% in the 1st quarter. Hudock Capital Group LLC now owns 3,690 shares of the conglomerate’s stock valued at $414,000 after acquiring an additional 17 shares during the last quarter. 78.85% of the stock is owned by institutional investors and hedge funds.

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Shares of United Technologies Corporation (UTX) traded up 0.37% during mid-day trading on Friday, hitting $113.56. The stock had a trading volume of 3,064,037 shares. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The company has a market capitalization of $90.71 billion, a P/E ratio of 17.30 and a beta of 1.05. The stock’s 50-day moving average price is $116.03 and its 200 day moving average price is $117.52.

United Technologies Corporation (NYSE:UTX) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.07. The company had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $1.82 earnings per share. On average, analysts predict that United Technologies Corporation will post $6.57 EPS for the current fiscal year.

A number of equities research analysts have weighed in on UTX shares. Bank of America Corporation reissued a “buy” rating and issued a $140.00 price target on shares of United Technologies Corporation in a report on Wednesday, September 6th. Deutsche Bank AG dropped their target price on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Wednesday, September 6th. Vertical Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, September 5th. Cowen and Company downgraded United Technologies Corporation from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $127.00 to $120.00 in a report on Wednesday, September 6th. Finally, Zacks Investment Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. United Technologies Corporation currently has an average rating of “Hold” and a consensus price target of $124.48.

United Technologies Corporation 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.

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

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