Autus Asset Management LLC Takes $347,000 Position in United Technologies Co. (UTX)
Autus Asset Management LLC bought a new stake in United Technologies Co. (NYSE:UTX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,989 shares of the conglomerate’s stock, valued at approximately $347,000.
Other institutional investors have also added to or reduced their stakes in the company. Knowledge Leaders Capital LLC bought a new stake in shares of United Technologies during the third quarter worth about $105,000. Tortoise Investment Management LLC grew its holdings in shares of United Technologies by 5.3% during the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares during the last quarter. Seven Bridges Advisors LLC bought a new stake in shares of United Technologies during the second quarter worth about $120,000. Winfield Associates Inc. grew its holdings in shares of United Technologies by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of United Technologies during the second quarter worth about $131,000. Hedge funds and other institutional investors own 80.07% of the company’s stock.
In related news, EVP Elizabeth B. Amato sold 4,341 shares of United Technologies stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the transaction, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at $3,667,042.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert J. Bailey sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,466 shares of company stock worth $2,019,274. 0.16% of the stock is owned by insiders.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 earnings per share. analysts predict that United Technologies Co. will post 6.61 EPS for the current year.
Several research firms have recently weighed in on UTX. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a report on Saturday. Goldman Sachs Group upgraded United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Cowen restated a “hold” rating and set a $120.00 price target on shares of United Technologies in a report on Tuesday, October 24th. Stifel Nicolaus boosted their price target on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. United Technologies currently has a consensus rating of “Hold” and a consensus target price of $128.19.
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About United Technologies
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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