Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $16.28 Million Position in United Technologies Co. (UTX)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of United Technologies Co. (NYSE:UTX) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,356 shares of the conglomerate’s stock after purchasing an additional 3,374 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in United Technologies were worth $16,283,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. South Texas Money Management Ltd. purchased a new position in United Technologies during the 3rd quarter worth $224,000. Alliancebernstein L.P. grew its stake in United Technologies by 19.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,758,776 shares of the conglomerate’s stock valued at $385,704,000 after purchasing an additional 445,640 shares during the last quarter. Rational Advisors LLC grew its stake in United Technologies by 8,837.3% during the 3rd quarter. Rational Advisors LLC now owns 35,749 shares of the conglomerate’s stock valued at $4,998,000 after purchasing an additional 35,349 shares during the last quarter. Novare Capital Management LLC grew its stake in United Technologies by 8.5% during the 3rd quarter. Novare Capital Management LLC now owns 74,816 shares of the conglomerate’s stock valued at $9,932,000 after purchasing an additional 5,835 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in United Technologies by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,760,710 shares of the conglomerate’s stock valued at $525,784,000 after purchasing an additional 485,125 shares during the last quarter. 80.83% of the stock is owned by hedge funds and other institutional investors.

Several analysts have weighed in on the company. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a research note on Wednesday, March 27th. JPMorgan Chase & Co. assumed coverage on United Technologies in a research note on Friday, February 22nd. They set an “overweight” rating and a $132.00 price target on the stock. Goldman Sachs Group upgraded United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 price target on the stock in a research note on Friday, February 1st. Royal Bank of Canada boosted their price target on United Technologies to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, January 24th. Finally, Bank of America reiterated a “buy” rating and set a $185.00 price target on shares of United Technologies in a research note on Thursday, January 24th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $144.00.

In other news, CEO Robert Kelly Ortberg sold 16,587 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $126.59, for a total value of $2,099,748.33. Following the completion of the transaction, the chief executive officer now owns 70,211 shares of the company’s stock, valued at approximately $8,888,010.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Akhil Johri sold 3,210 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $128.49, for a total value of $412,452.90. Following the completion of the transaction, the vice president now directly owns 62,915 shares of the company’s stock, valued at approximately $8,083,948.35. The disclosure for this sale can be found here. In the last three months, insiders sold 97,770 shares of company stock valued at $12,153,044. Insiders own 0.15% of the company’s stock.

Shares of UTX stock traded down $0.75 on Monday, hitting $134.55. The company had a trading volume of 1,874,900 shares, compared to its average volume of 4,253,535. The stock has a market cap of $116.09 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 1.01. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.15.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.42. The business had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $16.87 billion. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. Sell-side analysts anticipate that United Technologies Co. will post 7.92 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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