Moneta Group Investment Advisors LLC Makes New $797,000 Investment in United Technologies Co. (NYSE:UTX)
Moneta Group Investment Advisors LLC purchased a new stake in United Technologies Co. (NYSE:UTX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,701 shares of the conglomerate’s stock, valued at approximately $797,000.
Other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new stake in United Technologies during the second quarter worth about $26,000. Quad Cities Investment Group LLC boosted its position in United Technologies by 62.1% during the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Manchester Financial Inc. bought a new position in United Technologies in the second quarter valued at approximately $35,000. Personal Wealth Partners bought a new position in United Technologies in the second quarter valued at approximately $36,000. Finally, Ashburton Jersey Ltd acquired a new position in shares of United Technologies during the 2nd quarter worth approximately $40,000. Institutional investors own 80.72% of the company’s stock.
In related news, EVP Elizabeth B. Amato sold 4,298 shares of United Technologies stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $135.71, for a total transaction of $583,281.58. Following the completion of the sale, the executive vice president now directly owns 30,847 shares of the company’s stock, valued at approximately $4,186,246.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 831 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $135.09, for a total value of $112,259.79. Following the completion of the sale, the vice president now owns 2,000 shares of the company’s stock, valued at $270,180. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,567 shares of company stock worth $8,030,281. 0.15% of the stock is owned by company insiders.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.16. The company had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 earnings per share. As a group, analysts anticipate that United Technologies Co. will post 8.03 earnings per share for the current fiscal year.
UTX has been the subject of several recent analyst reports. Cowen reissued a “buy” rating and issued a $150.00 price objective on shares of United Technologies in a report on Wednesday, September 4th. Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Friday, June 14th. Bank of America reaffirmed a “buy” rating and set a $195.00 price target (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Morgan Stanley increased their price target on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. United Technologies currently has an average rating of “Buy” and a consensus target price of $152.21.
United Technologies Company Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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