Roosevelt Investment Group Inc. raised its holdings in shares of United Technologies Co. (NYSE:UTX) by 15.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,156 shares of the conglomerate’s stock after purchasing an additional 541 shares during the period. Roosevelt Investment Group Inc.’s holdings in United Technologies were worth $482,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after purchasing an additional 848,623 shares in the last quarter. BlackRock Inc. increased its stake in shares of United Technologies by 0.3% during the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after purchasing an additional 133,036 shares in the last quarter. FMR LLC increased its stake in shares of United Technologies by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after purchasing an additional 2,401,795 shares in the last quarter. Capital Research Global Investors increased its stake in shares of United Technologies by 3.6% during the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after purchasing an additional 304,989 shares in the last quarter. Finally, Boston Partners increased its stake in shares of United Technologies by 5.3% during the third quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after purchasing an additional 274,184 shares in the last quarter. 80.07% of the stock is owned by institutional investors and hedge funds.
In related news, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares in the company, valued at approximately $3,332,757.04. The disclosure for this sale can be found here. Insiders sold 16,466 shares of company stock worth $2,019,274 in the last 90 days. 0.16% of the stock is currently owned by corporate insiders.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter last year, the company posted $1.76 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. analysts expect that United Technologies Co. will post 6.61 EPS for the current fiscal year.
A number of equities research analysts have recently commented on the stock. Goldman Sachs Group upgraded shares of United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Royal Bank of Canada upgraded shares of United Technologies from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Finally, Cowen reiterated a “hold” rating and set a $120.00 price target on shares of United Technologies in a report on Friday, November 10th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. United Technologies currently has an average rating of “Hold” and an average price target of $125.63.
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About United Technologies
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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