United Technologies Co. (UTX) Position Reduced by Natixis

Natixis cut its holdings in United Technologies Co. (NYSE:UTX) by 38.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,252 shares of the conglomerate’s stock after selling 49,983 shares during the period. Natixis’ holdings in United Technologies were worth $9,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aperio Group LLC lifted its stake in United Technologies by 2.4% during the first quarter. Aperio Group LLC now owns 453,691 shares of the conglomerate’s stock worth $57,083,000 after purchasing an additional 10,833 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in United Technologies by 72.1% during the first quarter. Thrivent Financial for Lutherans now owns 814,073 shares of the conglomerate’s stock worth $102,427,000 after purchasing an additional 340,926 shares in the last quarter. First Mercantile Trust Co. lifted its stake in United Technologies by 45.6% during the first quarter. First Mercantile Trust Co. now owns 7,133 shares of the conglomerate’s stock worth $897,000 after purchasing an additional 2,233 shares in the last quarter. Stevens Capital Management LP acquired a new position in United Technologies during the first quarter worth $10,338,000. Finally, Richard C. Young & CO. LTD. lifted its stake in United Technologies by 38.8% during the first quarter. Richard C. Young & CO. LTD. now owns 20,084 shares of the conglomerate’s stock worth $2,527,000 after purchasing an additional 5,619 shares in the last quarter. Hedge funds and other institutional investors own 82.05% of the company’s stock.

A number of research firms have commented on UTX. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. UBS Group began coverage on United Technologies in a research note on Wednesday, August 15th. They set a “buy” rating on the stock. Morgan Stanley assumed coverage on United Technologies in a research note on Friday, June 15th. They set an “overweight” rating and a $160.00 price target on the stock. Wolfe Research assumed coverage on United Technologies in a research report on Wednesday, June 27th. They set an “outperform” rating on the stock. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $146.78.

United Technologies stock opened at $137.80 on Friday. United Technologies Co. has a twelve month low of $112.65 and a twelve month high of $139.24. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. The firm has a market cap of $107.12 billion, a PE ratio of 18.94, a P/E/G ratio of 2.03 and a beta of 1.01.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The business had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. During the same quarter in the prior year, the company earned $1.85 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. analysts predict that United Technologies Co. will post 7.23 EPS for the current year.

In related news, CFO Akhil Johri sold 3,428 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $135.82, for a total value of $465,590.96. Following the transaction, the chief financial officer now owns 43,403 shares of the company’s stock, valued at $5,894,995.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Charles D. Gill sold 14,255 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the transaction, the vice president now directly owns 55,029 shares in the company, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. Insiders have sold 18,511 shares of company stock worth $2,521,974 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.

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.

See Also: Exchange-Traded Funds (ETFs)

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

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