Jensen Investment Management Inc. Sells 32,515 Shares of United Technologies Corp. (UTX)
Jensen Investment Management Inc. lowered its stake in United Technologies Corp. (NYSE:UTX) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,932,352 shares of the company’s stock after selling 32,515 shares during the period. United Technologies Corp. makes up approximately 4.7% of Jensen Investment Management Inc.’s portfolio, making the stock its 7th largest position. Jensen Investment Management Inc. owned about 0.35% of United Technologies Corp. worth $300,713,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Advisors LLC increased its stake in United Technologies Corp. by 1.0% in the second quarter. Boston Advisors LLC now owns 12,660 shares of the company’s stock valued at $1,298,000 after buying an additional 120 shares during the last quarter. Cumberland Partners Ltd increased its stake in United Technologies Corp. by 50.9% in the second quarter. Cumberland Partners Ltd now owns 167,582 shares of the company’s stock valued at $17,186,000 after buying an additional 56,502 shares during the last quarter. Headinvest LLC increased its stake in United Technologies Corp. by 1.9% in the second quarter. Headinvest LLC now owns 9,236 shares of the company’s stock valued at $947,000 after buying an additional 170 shares during the last quarter. WESPAC Advisors LLC increased its stake in United Technologies Corp. by 16.9% in the second quarter. WESPAC Advisors LLC now owns 16,174 shares of the company’s stock valued at $1,659,000 after buying an additional 2,334 shares during the last quarter. Finally, Oakwood Capital Management LLC CA purchased a new stake in United Technologies Corp. during the second quarter valued at $4,771,000. 80.18% of the stock is owned by institutional investors and hedge funds.
United Technologies Corp. (NYSE:UTX) traded down 0.60% during midday trading on Monday, hitting $99.98. The company had a trading volume of 4,517,801 shares. The stock has a market cap of $83.68 billion, a price-to-earnings ratio of 11.79 and a beta of 1.11. United Technologies Corp. has a 12-month low of $83.39 and a 12-month high of $109.83. The company’s 50 day moving average is $104.05 and its 200 day moving average is $103.26.
United Technologies Corp. (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. The company had revenue of $14.90 billion for the quarter, compared to analysts’ expectations of $14.67 billion. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 earnings per share. On average, equities analysts anticipate that United Technologies Corp. will post $6.58 EPS for the current fiscal year.
Several analysts have recently weighed in on UTX shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $108.00 target price on shares of United Technologies Corp. in a report on Tuesday, June 14th. Zacks Investment Research downgraded United Technologies Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Jefferies Group reissued a “buy” rating on shares of United Technologies Corp. in a report on Tuesday, July 5th. Credit Suisse Group AG reissued a “hold” rating on shares of United Technologies Corp. in a report on Saturday, July 9th. Finally, Bank of America Corp. reissued a “buy” rating and issued a $130.00 target price (up from $115.00) on shares of United Technologies Corp. in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $110.04.
In related news, VP Charles D. Gill sold 7,144 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $108.05, for a total transaction of $771,909.20. Following the sale, the vice president now owns 55,278 shares of the company’s stock, valued at $5,972,787.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert J. Mcdonough sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $107.11, for a total value of $332,041.00. Following the sale, the insider now directly owns 11,349 shares in the company, valued at approximately $1,215,591.39. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
United Technologies Corp. 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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
Receive News & Stock Ratings for United Technologies Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corp. and related stocks with our FREE daily email newsletter.