Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of United Technologies Co. (NYSE:UTX) by 18.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 54,909 shares of the conglomerate’s stock after purchasing an additional 8,624 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in United Technologies were worth $5,847,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of UTX. WESPAC Advisors SoCal LLC purchased a new stake in shares of United Technologies during the 4th quarter worth $26,000. Guidant Wealth Advisors increased its position in United Technologies by 64.9% during the 4th quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Braun Bostich & Associates Inc. increased its position in United Technologies by 73.0% during the 4th quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock valued at $39,000 after buying an additional 154 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in United Technologies during the 4th quarter valued at about $51,000. Finally, Glassman Wealth Services increased its position in United Technologies by 297.9% during the 4th quarter. Glassman Wealth Services now owns 561 shares of the conglomerate’s stock valued at $60,000 after buying an additional 420 shares in the last quarter. Institutional investors own 80.83% of the company’s stock.
Shares of NYSE UTX opened at $140.78 on Friday. The firm has a market capitalization of $120.63 billion, a PE ratio of 18.50, a PEG ratio of 2.01 and a beta of 1.20. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.15. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 0.98.
In related 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 transaction, the chief executive officer now owns 70,211 shares in the company, valued at approximately $8,888,010.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 1,418 shares of United Technologies stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $126.20, for a total transaction of $178,951.60. The disclosure for this sale can be found here. Insiders have sold 97,770 shares of company stock worth $12,153,044 in the last quarter. Insiders own 0.15% of the company’s stock.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a report on Friday. Royal Bank of Canada restated a “sector perform” rating and issued a $159.00 target price on shares of United Technologies in a research note on Wednesday. Barclays increased their price target on United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. assumed coverage on United Technologies in a research report on Friday, February 22nd. They set an “overweight” rating and a $132.00 price target on the stock. Finally, Goldman Sachs Group upgraded United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 target price on the stock in a research report on Friday, February 1st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $148.67.
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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