United Technologies Co. (UTX) Shares Sold by Ferris Capital LLC
Ferris Capital LLC reduced its stake in United Technologies Co. (NYSE:UTX) by 22.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,318 shares of the conglomerate’s stock after selling 2,365 shares during the period. Ferris Capital LLC’s holdings in United Technologies were worth $1,040,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. HC Financial Advisors Inc. purchased a new stake in United Technologies in the fourth quarter worth about $1,559,000. Granite Investment Partners LLC increased its position in United Technologies by 33.3% in the first quarter. Granite Investment Partners LLC now owns 9,000 shares of the conglomerate’s stock worth $1,132,000 after buying an additional 2,250 shares in the last quarter. D.A. Davidson & CO. increased its position in United Technologies by 1.0% in the first quarter. D.A. Davidson & CO. now owns 395,439 shares of the conglomerate’s stock worth $49,754,000 after buying an additional 4,060 shares in the last quarter. Davidson Investment Advisors increased its position in United Technologies by 9.8% in the first quarter. Davidson Investment Advisors now owns 102,202 shares of the conglomerate’s stock worth $12,859,000 after buying an additional 9,132 shares in the last quarter. Finally, Wade G W & Inc. increased its position in United Technologies by 3.5% in the first quarter. Wade G W & Inc. now owns 96,218 shares of the conglomerate’s stock worth $12,106,000 after buying an additional 3,269 shares in the last quarter. Institutional investors and hedge funds own 82.05% of the company’s stock.
A number of brokerages have commented on UTX. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a research report on Wednesday, June 13th. ValuEngine cut United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. UBS Group began coverage on United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating for the company. Finally, Wolfe Research began coverage on United Technologies in a research report on Wednesday, June 27th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $146.78.
Shares of NYSE:UTX traded up $2.28 during trading on Friday, hitting $137.80. 5,465,030 shares of the company’s stock were exchanged, compared to its average volume of 3,154,510. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.82. United Technologies Co. has a 52-week low of $112.65 and a 52-week high of $139.24. The stock has a market capitalization of $107.12 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.03 and a beta of 1.01.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.12. The firm had revenue of $16.71 billion during the quarter, compared to analysts’ expectations of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $1.85 earnings per share. research analysts predict that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.
About United Technologies
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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