Modera Wealth Management LLC Sells 591 Shares of United Technologies Co. (UTX)

Modera Wealth Management LLC cut its holdings in United Technologies Co. (NYSE:UTX) by 15.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,188 shares of the conglomerate’s stock after selling 591 shares during the period. Modera Wealth Management LLC’s holdings in United Technologies were worth $339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Point View Wealth Management Inc. boosted its position in United Technologies by 2.4% during the fourth quarter. Point View Wealth Management Inc. now owns 3,600 shares of the conglomerate’s stock worth $383,000 after purchasing an additional 85 shares during the period. Newman Dignan & Sheerar Inc. boosted its position in United Technologies by 1.1% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 8,234 shares of the conglomerate’s stock worth $877,000 after purchasing an additional 86 shares during the period. Cim LLC boosted its position in United Technologies by 4.0% during the fourth quarter. Cim LLC now owns 2,280 shares of the conglomerate’s stock worth $243,000 after purchasing an additional 87 shares during the period. Pineno Levin & Ford Asset Management Inc. boosted its position in United Technologies by 2.0% during the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 4,794 shares of the conglomerate’s stock worth $510,000 after purchasing an additional 93 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in United Technologies by 3.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,221 shares of the conglomerate’s stock worth $343,000 after purchasing an additional 95 shares during the period. Institutional investors own 80.84% of the company’s stock.

A number of equities analysts have commented on UTX shares. Citigroup reaffirmed a “neutral” rating and set a $120.00 price objective (down from $125.00) on shares of United Technologies in a research report on Thursday, January 3rd. Royal Bank of Canada cut shares of United Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $139.00 to $119.00 in a research report on Thursday, January 3rd. Barclays reduced their price objective on shares of United Technologies from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, January 11th. OTR Global cut shares of United Technologies to a “positive” rating in a research report on Friday, January 18th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $149.00 price objective on shares of United Technologies in a research report on Wednesday, January 23rd. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. United Technologies has an average rating of “Buy” and an average price target of $144.00.

In related news, EVP Michael R. Dumais sold 9,620 shares of the business’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $119.12, for a total value of $1,145,934.40. Following the completion of the transaction, the executive vice president now owns 35,627 shares of the company’s stock, valued at $4,243,888.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Kelly Ortberg sold 16,587 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were 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 directly owns 70,211 shares of the company’s stock, valued at approximately $8,888,010.49. 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. 0.15% of the stock is currently owned by company insiders.

Shares of United Technologies stock opened at $137.00 on Monday. The stock has a market capitalization of $118.14 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.13 and a quick ratio of 0.81.

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