Family Management Corp Increases Stock Position in United Technologies Co. (NYSE:UTX)

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Family Management Corp raised its position in shares of United Technologies Co. (NYSE:UTX) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,820 shares of the conglomerate’s stock after buying an additional 1,124 shares during the quarter. United Technologies comprises approximately 1.4% of Family Management Corp’s portfolio, making the stock its 22nd biggest position. Family Management Corp’s holdings in United Technologies were worth $3,492,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in UTX. Vanguard Group Inc. raised its stake in shares of United Technologies by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 68,834,966 shares of the conglomerate’s stock worth $8,962,313,000 after buying an additional 777,327 shares in the last quarter. Morgan Stanley raised its holdings in shares of United Technologies by 2.0% during the 2nd quarter. Morgan Stanley now owns 11,814,971 shares of the conglomerate’s stock valued at $1,538,310,000 after buying an additional 231,073 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of United Technologies by 3.4% during the 2nd quarter. Fisher Asset Management LLC now owns 4,610,441 shares of the conglomerate’s stock valued at $600,279,000 after buying an additional 151,889 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of United Technologies by 170.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after buying an additional 2,503,654 shares in the last quarter. Finally, Jensen Investment Management Inc. raised its holdings in shares of United Technologies by 24.7% during the 2nd quarter. Jensen Investment Management Inc. now owns 3,968,549 shares of the conglomerate’s stock valued at $516,705,000 after buying an additional 785,493 shares in the last quarter. 80.67% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on UTX. Bank of America reaffirmed a “buy” rating and issued a $195.00 price objective (up from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. William Blair reissued a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Seaport Global Securities raised shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price target for the company in a report on Monday, June 10th. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target for the company. in a report on Friday, July 19th. Finally, 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 report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $152.33.

Shares of United Technologies stock opened at $137.69 on Friday. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The company has a market cap of $118.40 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. The firm has a fifty day moving average price of $130.37 and a two-hundred day moving average price of $131.28.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.16. The company had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.97 EPS. Analysts expect that United Technologies Co. will post 8.03 earnings per share for the current fiscal year.

In other news, VP Charles D. Gill sold 33,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $135.04, for a total value of $4,559,355.52. Following the completion of the transaction, the vice president now owns 112,458 shares of the company’s stock, valued at $15,186,328.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Charles D. Gill sold 26,542 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $131.42, for a total value of $3,488,149.64. Following the completion of the transaction, the vice president now directly owns 103,458 shares of the company’s stock, valued at approximately $13,596,450.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,123 shares of company stock valued at $13,787,015. Corporate insiders own 0.15% of the company’s stock.

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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