Sumitomo Life Insurance Co. raised its stake in United Technologies Co. (NYSE:UTX) by 6.8% in the 4th quarter, HoldingsChannel reports. The firm owned 32,814 shares of the conglomerate’s stock after acquiring an additional 2,101 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in United Technologies were worth $4,914,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Phocas Financial Corp. bought a new stake in United Technologies in the second quarter valued at $25,000. Transamerica Financial Advisors Inc. bought a new stake in United Technologies in the second quarter valued at $30,000. Accurate Investment Solutions Inc. bought a new stake in United Technologies in the fourth quarter valued at $30,000. Savior LLC bought a new stake in shares of United Technologies during the fourth quarter worth about $32,000. Finally, American National Bank bought a new stake in shares of United Technologies during the third quarter worth about $34,000. 80.91% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Gregory Hayes sold 27,987 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $147.79, for a total transaction of $4,136,198.73. Following the transaction, the chief executive officer now directly owns 287,649 shares in the company, valued at $42,511,645.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 1,299 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $149.17, for a total transaction of $193,771.83. Following the transaction, the vice president now owns 2,600 shares in the company, valued at $387,842. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,015 shares of company stock worth $10,163,321. 0.15% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on UTX shares. UBS Group boosted their target price on shares of United Technologies from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their target price on shares of United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Credit Suisse Group set a $162.00 target price on shares of United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Cowen reissued a “buy” rating and set a $169.00 target price on shares of United Technologies in a research report on Wednesday. Finally, Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, November 28th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $160.79.

United Technologies stock traded down $1.01 during midday trading on Friday, hitting $152.79. 193,244 shares of the stock were exchanged, compared to its average volume of 2,619,403. United Technologies Co. has a 52-week low of $113.77 and a 52-week high of $155.53. The stock has a market capitalization of $132.76 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.01 and a beta of 1.22. The business’s 50-day moving average price is $150.73 and its 200-day moving average price is $140.08. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.31 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, sell-side analysts predict that United Technologies Co. will post 8.13 earnings per share for the current fiscal year.

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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