Raymond James & Associates lifted its holdings in shares of United Technologies Co. (NYSE:UTX) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 773,071 shares of the conglomerate’s stock after purchasing an additional 98,265 shares during the quarter. Raymond James & Associates owned 0.10% of United Technologies worth $96,660,000 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 UTX. BlackRock Inc. grew its stake in United Technologies by 0.9% in the first quarter. BlackRock Inc. now owns 47,285,799 shares of the conglomerate’s stock valued at $5,949,501,000 after purchasing an additional 435,497 shares in the last quarter. FMR LLC boosted its stake in shares of United Technologies by 2.7% during the 2nd quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock worth $3,308,428,000 after acquiring an additional 707,417 shares during the period. Third Point LLC boosted its stake in shares of United Technologies by 7.0% during the 2nd quarter. Third Point LLC now owns 7,600,000 shares of the conglomerate’s stock worth $950,228,000 after acquiring an additional 500,000 shares during the period. Boston Partners boosted its stake in shares of United Technologies by 25.0% during the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock worth $844,240,000 after acquiring an additional 1,349,539 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of United Technologies by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 4,086,665 shares of the conglomerate’s stock worth $510,956,000 after acquiring an additional 150,259 shares during the period. 81.68% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on UTX shares. Robert W. Baird lifted their target price on United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, September 20th. Morgan Stanley started coverage on United Technologies in a research note on Friday, June 15th. They issued an “overweight” rating and a $160.00 price target for the company. Jefferies Financial Group set a $157.00 price target on United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research note on Thursday, October 4th. Finally, Wolfe Research started coverage on United Technologies in a research note on Wednesday, June 27th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $150.30.
Shares of NYSE UTX opened at $139.59 on Tuesday. The firm has a market capitalization of $111.86 billion, a price-to-earnings ratio of 20.99, a P/E/G 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 fifty-two week low of $115.40 and a fifty-two week high of $144.15.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm had revenue of $16.71 billion during the quarter, compared to analysts’ expectations of $16.26 billion. During the same period in the previous year, the firm earned $1.85 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts forecast that United Technologies Co. will post 7.23 EPS for the current fiscal year.
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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