Strategic Financial Services Inc lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,254 shares of the conglomerate’s stock after acquiring an additional 440 shares during the period. Strategic Financial Services Inc’s holdings in United Technologies were worth $2,689,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. WESPAC Advisors SoCal LLC purchased a new position in United Technologies in the fourth quarter valued at approximately $26,000. Guidant Wealth Advisors raised its holdings in United Technologies by 64.9% in the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock valued at $27,000 after buying an additional 100 shares during the period. Braun Bostich & Associates Inc. raised its holdings in United Technologies by 73.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock valued at $39,000 after buying an additional 154 shares during the period. Financial Gravity Companies Inc. purchased a new position in United Technologies in the fourth quarter valued at approximately $51,000. Finally, Glassman Wealth Services raised its holdings in United Technologies by 297.9% in the fourth quarter. Glassman Wealth Services now owns 561 shares of the conglomerate’s stock valued at $60,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.
Several research analysts recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $159.00 price target on shares of United Technologies in a report on Wednesday. Barclays raised their price target on shares of United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. started coverage on shares of United Technologies in a research report on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price objective for the company. Finally, Goldman Sachs Group raised shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 price objective for the company in a research report on Friday, February 1st. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. United Technologies currently has a consensus rating of “Buy” and an average price target of $147.00.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.20. The business had revenue of $18.37 billion during the quarter, compared to the consensus estimate of $18.01 billion. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.77 earnings per share. On average, equities analysts anticipate that United Technologies Co. will post 7.92 earnings per share for the current year.
In other United Technologies news, VP Robert J. Bailey sold 862 shares of United Technologies stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $121.71, for a total value of $104,914.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Akhil Johri sold 3,210 shares of United Technologies stock in a transaction 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 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 ninety days, insiders sold 97,770 shares of company stock valued at $12,153,044. 0.15% of the stock is currently owned by corporate insiders.
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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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