Highstreet Asset Management Inc. lessened its stake in shares of United Technologies Co. (NYSE:UTX) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,930 shares of the conglomerate’s stock after selling 4,092 shares during the quarter. Highstreet Asset Management Inc.’s holdings in United Technologies were worth $2,655,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its position in United Technologies by 11,458.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,426,355 shares of the conglomerate’s stock valued at $89,000 after purchasing an additional 9,344,798 shares during the period. BlackRock Inc. increased its position in shares of United Technologies by 13.3% during the fourth quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock worth $5,753,662,000 after acquiring an additional 6,347,718 shares during the last quarter. Matthew Goff Investment Advisor LLC increased its position in shares of United Technologies by 12,402.9% during the third quarter. Matthew Goff Investment Advisor LLC now owns 4,115,095 shares of the conglomerate’s stock worth $32,913,000 after acquiring an additional 4,082,182 shares during the last quarter. Vanguard Group Inc increased its position in shares of United Technologies by 1.9% during the third quarter. Vanguard Group Inc now owns 59,240,301 shares of the conglomerate’s stock worth $8,282,386,000 after acquiring an additional 1,094,947 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of United Technologies by 1.9% during the third quarter. Vanguard Group Inc. now owns 59,240,301 shares of the conglomerate’s stock worth $8,282,386,000 after acquiring an additional 1,094,947 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.
In other United Technologies news, VP Robert J. Bailey sold 1,418 shares of United Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $126.20, for a total transaction of $178,951.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Akhil Johri sold 3,210 shares of United Technologies stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $128.49, for a total transaction of $412,452.90. Following the transaction, the vice president now owns 62,915 shares in the company, valued at $8,083,948.35. The disclosure for this sale can be found here. Insiders sold 97,770 shares of company stock worth $12,153,044 in the last ninety days. 0.15% of the stock is owned by corporate insiders.
United Technologies (NYSE:UTX) last announced its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.42. The firm had revenue of $18.04 billion for 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 firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 earnings per share. On average, sell-side analysts expect that United Technologies Co. will post 7.92 EPS for the current year.
A number of brokerages have recently issued reports on UTX. Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research report on Wednesday, January 30th. Royal Bank of Canada lifted their price target on United Technologies to $129.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 24th. OTR Global downgraded United Technologies to a “positive” rating in a research note on Friday, January 18th. Barclays decreased their target price on United Technologies from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, January 11th. Finally, JPMorgan Chase & Co. assumed coverage on United Technologies in a research note on Friday, February 22nd. They issued an “overweight” rating and a $132.00 target price for the company. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. United Technologies presently has an average rating of “Buy” and an average price target of $144.00.
About United Technologies
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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