Samsung Asset Management New York Inc. reduced its stake in United Technologies Corp. (NYSE:UTX) by 42.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,360 shares of the company’s stock after selling 13,680 shares during the period. United Technologies Corp. accounts for 1.5% of Samsung Asset Management New York Inc.’s investment portfolio, making the stock its 27th largest position. Samsung Asset Management New York Inc.’s holdings in United Technologies Corp. were worth $1,883,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in United Technologies Corp. by 1.7% in the first quarter. Franklin Resources Inc. now owns 18,076,858 shares of the company’s stock worth $1,809,493,000 after buying an additional 293,635 shares during the last quarter. Fisher Asset Management LLC raised its position in United Technologies Corp. by 1.4% in the first quarter. Fisher Asset Management LLC now owns 8,375,521 shares of the company’s stock worth $875,828,000 after buying an additional 118,364 shares during the period. First Pacific Advisors LLC raised its position in United Technologies Corp. by 7.3% in the second quarter. First Pacific Advisors LLC now owns 6,862,946 shares of the company’s stock worth $703,795,000 after buying an additional 464,778 shares during the period. Boston Partners raised its position in United Technologies Corp. by 182.4% in the second quarter. Boston Partners now owns 4,192,600 shares of the company’s stock worth $429,951,000 after buying an additional 2,707,944 shares during the period. Finally, Ameriprise Financial Inc. raised its position in United Technologies Corp. by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 3,422,129 shares of the company’s stock worth $350,916,000 after buying an additional 204,942 shares during the period. Institutional investors and hedge funds own 80.18% of the company’s stock.
Shares of United Technologies Corp. (NYSE:UTX) traded down 0.46% during trading on Thursday, hitting $101.88. The stock had a trading volume of 937,977 shares. United Technologies Corp. has a 12-month low of $83.39 and a 12-month high of $109.83. The firm has a 50 day moving average price of $105.53 and a 200 day moving average price of $103.12. The firm has a market cap of $85.27 billion, a P/E ratio of 12.02 and a beta of 1.06.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. The business had revenue of $14.90 billion for the quarter, compared to the consensus estimate of $14.67 billion. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. On average, equities analysts expect that United Technologies Corp. will post $6.58 earnings per share for the current fiscal year.
A number of research firms recently weighed in on UTX. Credit Suisse Group AG reaffirmed a “hold” rating on shares of United Technologies Corp. in a research report on Saturday, July 9th. Sterne Agee CRT lowered United Technologies Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $108.00 price objective on shares of United Technologies Corp. in a research report on Tuesday, June 14th. Zacks Investment Research lowered United Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $107.00 price objective on shares of United Technologies Corp. in a research report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $110.36.
In related news, VP Charles D. Gill sold 7,144 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $108.05, for a total value of $771,909.20. Following the transaction, the vice president now directly owns 55,278 shares of the company’s stock, valued at approximately $5,972,787.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert J. Mcdonough sold 3,100 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the transaction, the insider now directly owns 11,349 shares in the company, valued at $1,215,591.39. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
About United Technologies Corp.
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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