BerganKDV Wealth Management LLC reduced its stake in shares of United Technologies Co. (NYSE:UTX) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,290 shares of the conglomerate’s stock after selling 484 shares during the period. BerganKDV Wealth Management LLC’s holdings in United Technologies were worth $1,210,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Quad Cities Investment Group LLC boosted its position in shares of United Technologies by 62.1% during the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after buying an additional 100 shares during the period. Manchester Financial Inc. bought a new stake in United Technologies in the second quarter valued at approximately $35,000. Personal Wealth Partners bought a new stake in United Technologies in the second quarter valued at approximately $36,000. Ashburton Jersey Ltd bought a new stake in United Technologies in the second quarter valued at approximately $40,000. Finally, AlphaMark Advisors LLC raised its stake in United Technologies by 133.3% in the second quarter. AlphaMark Advisors LLC now owns 350 shares of the conglomerate’s stock valued at $46,000 after buying an additional 200 shares during the period. Institutional investors own 80.72% of the company’s stock.
United Technologies stock traded up $1.56 during mid-day trading on Friday, reaching $139.02. 32,924 shares of the company were exchanged, compared to its average volume of 2,424,325. The company has a fifty day simple moving average of $130.05 and a 200-day simple moving average of $130.91. United Technologies Co. has a 12 month low of $100.48 and a 12 month high of $144.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. The firm has a market cap of $115.55 billion, a PE ratio of 18.23, a PEG ratio of 1.89 and a beta of 1.21.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. The firm had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The company’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. Sell-side analysts anticipate that United Technologies Co. will post 8.03 earnings per share for the current year.
In related news, VP Charles D. Gill sold 26,542 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $131.42, for a total transaction of $3,488,149.64. Following the sale, the vice president now owns 103,458 shares of the company’s stock, valued at approximately $13,596,450.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the sale, the executive vice president now directly owns 30,847 shares in the company, valued at approximately $4,186,246.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,567 shares of company stock worth $8,030,281. Company insiders own 0.15% of the company’s stock.
Several analysts have issued reports on UTX shares. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Friday, June 14th. Bank of America restated a “buy” rating and issued a $195.00 price objective (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Morgan Stanley upped their price objective on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Seaport Global Securities upgraded United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Monday, June 10th. Finally, William Blair reiterated a “hold” rating on shares of United Technologies in a research note on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $152.21.
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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