Fayez Sarofim & Co. Cuts Holdings in United Technologies Co. (UTX)

Fayez Sarofim & Co. cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,414,670 shares of the conglomerate’s stock after selling 43,278 shares during the period. Fayez Sarofim & Co.’s holdings in United Technologies were worth $164,215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in UTX. Alexandria Capital LLC increased its stake in shares of United Technologies by 0.3% in the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares during the last quarter. Rowland & Co. Investment Counsel ADV increased its stake in shares of United Technologies by 0.3% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after acquiring an additional 3 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in shares of United Technologies by 0.4% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock valued at $218,000 after acquiring an additional 8 shares during the last quarter. Kissinger Financial Services LLC increased its stake in shares of United Technologies by 0.5% in the 2nd quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock valued at $256,000 after acquiring an additional 11 shares during the last quarter. Finally, Vigilant Capital Management LLC increased its stake in shares of United Technologies by 0.7% in the 2nd quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock valued at $231,000 after acquiring an additional 14 shares during the last quarter. Institutional investors own 80.07% of the company’s stock.

A number of brokerages have recently commented on UTX. Goldman Sachs Group raised United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Cowen reaffirmed a “hold” rating and issued a $120.00 price target on shares of United Technologies in a research note on Tuesday, October 24th. Stifel Nicolaus upped their price target on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $125.63.

In other news, EVP Elizabeth B. Amato sold 4,341 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the transaction, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at $252,020. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,466 shares of company stock valued at $2,019,274. 0.16% of the stock is owned by company insiders.

Shares of United Technologies Co. (NYSE:UTX) opened at $134.61 on Friday. United Technologies Co. has a 52 week low of $106.85 and a 52 week high of $137.73. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The stock has a market capitalization of $107,500.00, a P/E ratio of 20.84, a P/E/G ratio of 2.33 and a beta of 1.07.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the prior year, the business earned $1.76 EPS. United Technologies’s revenue for the quarter was up 4.9% compared to the same quarter last year. analysts anticipate that United Technologies Co. will post 6.61 earnings per share for the current year.

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United Technologies Profile

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. Otis operates as an elevator and escalator manufacturing, installation and service company.

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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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