Camden National Bank lessened its holdings in shares of United Technologies Co. (NYSE:UTX) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,976 shares of the conglomerate’s stock after selling 2,071 shares during the period. United Technologies accounts for 2.4% of Camden National Bank’s holdings, making the stock its 14th biggest holding. Camden National Bank’s holdings in United Technologies were worth $10,283,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in UTX. Quad Cities Investment Group LLC increased 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 acquiring an additional 100 shares in the last quarter. Manchester Financial Inc. purchased a new position in United Technologies during the second quarter worth about $35,000. Personal Wealth Partners purchased a new position in United Technologies during the second quarter worth about $36,000. Ashburton Jersey Ltd purchased a new position in United Technologies during the second quarter worth about $40,000. Finally, AlphaMark Advisors LLC boosted its holdings in United Technologies by 133.3% during the second quarter. AlphaMark Advisors LLC now owns 350 shares of the conglomerate’s stock worth $46,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.
UTX stock traded up $1.44 on Friday, hitting $138.90. The company had a trading volume of 44,425 shares, compared to its average volume of 2,424,325. The stock’s 50-day simple moving average is $130.05 and its 200 day simple moving average is $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 current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The stock has a market cap of $115.55 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 1.89 and a beta of 1.21.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The firm had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the previous year, the firm posted $1.97 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts forecast that United Technologies Co. will post 8.03 earnings per share for the current year.
In other United Technologies news, insider Robert F. Leduc sold 5,025 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $134.06, for a total value of $673,651.50. Following the completion of the sale, the insider now directly owns 91,028 shares of the company’s stock, valued at approximately $12,203,213.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert J. Bailey sold 831 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $135.09, for a total transaction of $112,259.79. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $270,180. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,567 shares of company stock valued at $8,030,281. 0.15% of the stock is owned by corporate insiders.
Several research analysts recently weighed in on the stock. William Blair restated a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Bank of America reissued a “buy” rating and set a $195.00 target price (up previously from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Morgan Stanley boosted their target price on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Barclays boosted their target price on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Seaport Global Securities raised shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $152.21.
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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