Evercore Wealth Management LLC Has $15.06 Million Holdings in United Technologies Co. (NYSE:UTX)

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Evercore Wealth Management LLC lessened its holdings in shares of United Technologies Co. (NYSE:UTX) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,653 shares of the conglomerate’s stock after selling 1,172 shares during the quarter. Evercore Wealth Management LLC’s holdings in United Technologies were worth $15,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC increased its stake in United Technologies by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after purchasing an additional 1,293,517 shares during the last quarter. Altman Advisors Inc. increased its stake in United Technologies by 4.6% in the first quarter. Altman Advisors Inc. now owns 17,205 shares of the conglomerate’s stock valued at $2,218,000 after purchasing an additional 763 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in United Technologies by 4.0% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 4,066 shares of the conglomerate’s stock valued at $524,000 after purchasing an additional 158 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in United Technologies by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 42,800 shares of the conglomerate’s stock valued at $5,516,000 after purchasing an additional 200 shares during the last quarter. Finally, Strategic Advisors LLC increased its stake in United Technologies by 29.7% in the first quarter. Strategic Advisors LLC now owns 5,254 shares of the conglomerate’s stock valued at $677,000 after purchasing an additional 1,204 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of UTX opened at $138.06 on Friday. 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 firm has a market cap of $118.62 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The company’s 50 day simple moving average is $130.12 and its 200-day simple moving average is $130.96. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) 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 business had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same period last year, the firm posted $1.97 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities research analysts forecast that United Technologies Co. will post 8.03 EPS for the current fiscal year.

In related news, VP Robert J. Bailey sold 831 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $270,180. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akhil Johri sold 4,680 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $135.29, for a total value of $633,157.20. Following the sale, the chief financial officer now directly owns 67,345 shares of the company’s stock, valued at $9,111,105.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,123 shares of company stock valued at $13,787,015. Corporate insiders own 0.15% of the company’s stock.

Several equities analysts have commented on UTX shares. Barclays increased their price target on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their target price on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Friday, June 14th. Cowen restated a “buy” rating and set a $150.00 target price on shares of United Technologies in a research report on Wednesday, September 4th. Finally, Bank of America restated a “buy” rating and set a $195.00 target price (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $152.21.

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

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