Davy Asset Management Ltd bought a new stake in shares of United Technologies Co. (NYSE:UTX) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 51,279 shares of the conglomerate’s stock, valued at approximately $3,917,000. United Technologies accounts for 1.6% of Davy Asset Management Ltd’s holdings, making the stock its 22nd biggest position.
Several other large investors also recently made changes to their positions in UTX. Credit Agricole S A grew its stake in United Technologies by 101.4% during the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after purchasing an additional 436 shares in the last quarter. Silvant Capital Management LLC acquired a new stake in United Technologies during the 1st quarter valued at approximately $113,000. Jolley Asset Management LLC acquired a new stake in United Technologies during the 2nd quarter valued at approximately $114,000. Fort L.P. acquired a new stake in United Technologies during the 2nd quarter valued at approximately $120,000. Finally, WP Advisors LLC acquired a new stake in United Technologies during the 2nd quarter valued at approximately $126,000. Institutional investors and hedge funds own 81.68% of the company’s stock.
Shares of UTX opened at $139.59 on Tuesday. The company has a market capitalization of $111.86 billion, a PE ratio of 20.99, a PEG ratio of 2.12 and a beta of 0.98. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82. United Technologies Co. has a 52 week low of $115.40 and a 52 week high of $144.15.
UTX has been the subject of a number of recent analyst reports. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Robert W. Baird raised their price objective on United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, September 20th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. Jefferies Financial Group set a $157.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Finally, Wolfe Research assumed coverage on United Technologies in a research report on Wednesday, June 27th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and a consensus price target of $150.30.
In other United Technologies news, VP Charles D. Gill sold 14,255 shares of United Technologies stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the sale, the vice president now owns 55,029 shares of the company’s stock, valued at approximately $7,507,606.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akhil Johri sold 3,428 shares of United Technologies stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total value of $465,590.96. Following the sale, the chief financial officer now directly owns 43,403 shares in the company, valued at approximately $5,894,995.46. The disclosure for this sale can be found here. In the last three months, insiders sold 18,511 shares of company stock worth $2,521,974. Company insiders own 0.17% of the company’s stock.
United Technologies 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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