United Technologies Corporation (UTX) Shares Sold by Inverness Counsel LLC NY
Inverness Counsel LLC NY reduced its stake in United Technologies Corporation (NYSE:UTX) by 19.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,882 shares of the conglomerate’s stock after selling 2,802 shares during the period. Inverness Counsel LLC NY’s holdings in United Technologies Corporation were worth $1,451,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of UTX. Swiss National Bank grew its stake in United Technologies Corporation by 25.2% in the 1st quarter. Swiss National Bank now owns 2,771,721 shares of the conglomerate’s stock worth $311,015,000 after acquiring an additional 557,300 shares in the last quarter. American Century Companies Inc. grew its stake in United Technologies Corporation by 15.8% in the 1st quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock worth $384,887,000 after acquiring an additional 468,515 shares in the last quarter. Karp Capital Management Corp bought a new position in United Technologies Corporation in the 1st quarter worth about $40,211,000. UBS Asset Management Americas Inc. grew its stake in United Technologies Corporation by 11.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 2,858,758 shares of the conglomerate’s stock worth $320,781,000 after acquiring an additional 301,484 shares in the last quarter. Finally, PGGM Investments grew its stake in United Technologies Corporation by 52.4% in the 2nd quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock worth $91,486,000 after acquiring an additional 257,582 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.
United Technologies Corporation (NYSE UTX) opened at 115.01 on Friday. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The stock has a market cap of $91.87 billion, a PE ratio of 17.52 and a beta of 1.05. The firm has a 50 day moving average of $115.56 and a 200-day moving average of $117.60.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The company had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that United Technologies Corporation will post $6.57 earnings per share for the current year.
UTX has been the topic of a number of recent research reports. Cowen and Company downgraded shares of United Technologies Corporation from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $127.00 to $120.00 in a research note on Wednesday, September 6th. Bank of America Corporation reiterated a “buy” rating and set a $140.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, September 6th. Jefferies Group LLC reiterated a “buy” rating and set a $139.00 price objective on shares of United Technologies Corporation in a research note on Tuesday, August 29th. Credit Suisse Group reiterated a “buy” rating and set a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Finally, BidaskClub upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $124.48.
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United Technologies Corporation 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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