United Technologies Corporation (UTX) Position Increased by Utah Retirement Systems

Utah Retirement Systems raised its stake in United Technologies Corporation (NYSE:UTX) by 0.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,355 shares of the conglomerate’s stock after acquiring an additional 100 shares during the period. Utah Retirement Systems’ holdings in United Technologies Corporation were worth $15,974,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its stake in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 125 shares during the period. Alexandria Capital LLC boosted its position in shares of United Technologies Corporation by 0.4% during the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares during the period. Paragon Capital Management Ltd acquired a new position in shares of United Technologies Corporation during the first quarter worth approximately $139,000. Thompson Davis & CO. Inc. boosted its position in shares of United Technologies Corporation by 22.9% during the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after buying an additional 249 shares during the period. Finally, MCF Advisors LLC boosted its position in shares of United Technologies Corporation by 22.4% during the first quarter. MCF Advisors LLC now owns 1,550 shares of the conglomerate’s stock worth $174,000 after buying an additional 284 shares during the period. Institutional investors own 78.79% of the company’s stock.

United Technologies Corporation (NYSE:UTX) opened at 115.01 on Friday. The stock has a 50 day moving average of $115.56 and a 200-day moving average of $117.60. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The firm has a market capitalization of $91.87 billion, a P/E ratio of 17.52 and a beta of 1.05.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. The business had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 earnings per share. On average, equities research analysts anticipate that United Technologies Corporation will post $6.57 earnings per share for the current year.

UTX has been the subject of a number of research analyst reports. Cowen and Company downgraded United Technologies Corporation from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $127.00 to $120.00 in a research report on Wednesday, September 6th. Bank of America Corporation restated a “buy” rating and issued a $140.00 target price on shares of United Technologies Corporation in a research report on Wednesday, September 6th. Jefferies Group LLC restated a “buy” rating and issued a $139.00 target price on shares of United Technologies Corporation in a research report on Tuesday, August 29th. Credit Suisse Group restated a “buy” rating and issued a $136.00 target price on shares of United Technologies Corporation in a research report on Wednesday, July 26th. Finally, BidaskClub upgraded United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $124.48.

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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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