IBM Retirement Fund trimmed its position in shares of United Technologies Co. (NYSE:UTX) by 11.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,909 shares of the conglomerate’s stock after selling 2,068 shares during the quarter. IBM Retirement Fund’s holdings in United Technologies were worth $1,989,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OppenheimerFunds Inc. grew its stake in shares of United Technologies by 14.7% during the second quarter. OppenheimerFunds Inc. now owns 841,293 shares of the conglomerate’s stock worth $105,187,000 after acquiring an additional 107,771 shares during the last quarter. Van ECK Associates Corp boosted its position in United Technologies by 17.5% in the second quarter. Van ECK Associates Corp now owns 167,583 shares of the conglomerate’s stock valued at $20,953,000 after buying an additional 24,954 shares during the last quarter. Aureus Asset Management LLC boosted its position in United Technologies by 27.3% in the second quarter. Aureus Asset Management LLC now owns 9,517 shares of the conglomerate’s stock valued at $1,190,000 after buying an additional 2,040 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in United Technologies in the second quarter valued at approximately $10,197,000. Finally, BlueMountain Capital Management LLC purchased a new stake in United Technologies in the second quarter valued at approximately $16,198,000. 81.68% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on the company. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Wolfe Research assumed coverage on United Technologies in a research report on Wednesday, June 27th. They issued an “outperform” rating on the stock. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Morgan Stanley assumed coverage on United Technologies in a research report on Friday, June 15th. They issued an “overweight” rating and a $160.00 price objective on the stock. Finally, Jefferies Financial Group set a $157.00 price objective on United Technologies and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. United Technologies presently has a consensus rating of “Buy” and an average price target of $150.30.

NYSE UTX opened at $139.06 on Friday. United Technologies Co. has a one year low of $115.40 and a one year high of $144.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10. The firm has a market capitalization of $111.86 billion, a P/E ratio of 20.91, a PEG ratio of 2.12 and a beta of 0.98.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. During the same period in the prior year, the company earned $1.85 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that United Technologies Co. will post 7.23 earnings per share for the current year.

In other United Technologies news, VP Charles D. Gill sold 14,255 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the sale, the vice president now directly owns 55,029 shares of the company’s stock, valued at approximately $7,507,606.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert J. Bailey sold 828 shares of the firm’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total value of $111,573.00. Following the completion of the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $269,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,511 shares of company stock valued at $2,521,974. 0.17% of the stock is owned by corporate insiders.

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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