Allworth Financial LP Increases Position in United Technologies Co. (NYSE:UTX)

Allworth Financial LP grew its holdings in United Technologies Co. (NYSE:UTX) by 4.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,171 shares of the conglomerate’s stock after buying an additional 92 shares during the period. Allworth Financial LP’s holdings in United Technologies were worth $296,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Phocas Financial Corp. purchased a new position in United Technologies during the second quarter worth about $25,000. Krane Funds Advisors LLC purchased a new position in United Technologies during the second quarter worth about $26,000. Transamerica Financial Advisors Inc. purchased a new position in United Technologies during the second quarter worth about $30,000. Quad Cities Investment Group LLC raised its holdings in United Technologies by 62.1% during the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Finally, Manchester Financial Inc. purchased a new position in United Technologies during the second quarter worth about $35,000. 80.68% of the stock is owned by institutional investors and hedge funds.

UTX traded up $1.17 on Wednesday, hitting $131.96. 2,164,112 shares of the company were exchanged, compared to its average volume of 3,558,914. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. The business’s fifty day moving average is $132.63 and its 200 day moving average is $132.17. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The firm has a market capitalization of $114.50 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same period in the prior year, the business posted $1.97 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. Analysts forecast that United Technologies Co. will post 8.03 EPS for the current fiscal year.

In other United Technologies news, EVP Michael R. Dumais sold 4,329 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $130.98, for a total transaction of $567,012.42. Following the transaction, the executive vice president now directly owns 39,265 shares in the company, valued at $5,142,929.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Hayes sold 19,542 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $133.35, for a total transaction of $2,605,925.70. Following the transaction, the chief executive officer now owns 246,111 shares in the company, valued at $32,818,901.85. The disclosure for this sale can be found here. Insiders have sold 103,123 shares of company stock worth $13,787,015 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

UTX has been the subject of several analyst reports. Cowen reissued a “buy” rating and set a $150.00 price target on shares of United Technologies in a report on Wednesday, September 4th. Wolfe Research set a $152.00 price target on shares of United Technologies and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America reissued a “buy” rating and set a $195.00 price target (up from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Credit Suisse Group initiated coverage on shares of United Technologies in a report on Thursday, October 3rd. They set an “outperform” rating and a $164.00 price target for the company. Finally, William Blair reissued a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $153.38.

United Technologies Company 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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