NTV Asset Management LLC Sells 2,296 Shares of United Technologies Co. (UTX)
NTV Asset Management LLC decreased its holdings in United Technologies Co. (NYSE:UTX) by 7.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,753 shares of the conglomerate’s stock after selling 2,296 shares during the quarter. NTV Asset Management LLC’s holdings in United Technologies were worth $3,106,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Connecticut Wealth Management LLC boosted its stake in shares of United Technologies by 10.1% in the second quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock valued at $1,473,000 after purchasing an additional 1,098 shares during the period. Pacer Advisors Inc. raised its holdings in United Technologies by 8.4% in the second quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock valued at $2,281,000 after acquiring an additional 1,447 shares in the last quarter. Stoneridge Investment Partners LLC raised its holdings in United Technologies by 755.1% in the second quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock valued at $4,051,000 after acquiring an additional 29,298 shares in the last quarter. Federated Investors Inc. PA raised its holdings in United Technologies by 22.2% in the second quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock valued at $7,963,000 after acquiring an additional 11,851 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in United Technologies by 136.2% in the second quarter. Canada Pension Plan Investment Board now owns 340,295 shares of the conglomerate’s stock valued at $41,553,000 after acquiring an additional 196,200 shares in the last quarter. 80.07% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on UTX. Goldman Sachs Group raised shares of United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Cowen reaffirmed a “hold” rating and issued a $120.00 target price on shares of United Technologies in a report on Friday, November 10th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $126.00 target price on shares of United Technologies in a report on Tuesday, October 10th. Atlantic Securities raised shares of United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Finally, Zacks Investment Research cut shares of United Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. United Technologies presently has a consensus rating of “Hold” and a consensus price target of $125.63.
In other United Technologies news, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $121.03, for a total transaction of $723,638.37. Following the sale, the vice president now owns 23,295 shares of the company’s stock, valued at $2,819,393.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,466 shares of company stock worth $2,019,274. 0.16% of the stock is owned by corporate insiders.
Shares of United Technologies Co. (NYSE UTX) opened at $136.58 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Co. has a 1-year low of $106.85 and a 1-year high of $136.58. The firm has a market cap of $109,070.00, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 2.34 and a beta of 1.07.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter last year, the company earned $1.76 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts expect that United Technologies Co. will post 6.61 EPS for the current year.
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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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