Van Cleef Asset Management Inc Has $1.81 Million Stock Position in United Technologies Co. (NYSE:UTX)

Van Cleef Asset Management Inc lowered its position in shares of United Technologies Co. (NYSE:UTX) by 0.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,882 shares of the conglomerate’s stock after selling 112 shares during the quarter. Van Cleef Asset Management Inc’s holdings in United Technologies were worth $1,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Architects LLC raised its stake in United Technologies by 4.3% during the second quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock worth $236,000 after acquiring an additional 75 shares in the last quarter. Patten Group Inc. raised its stake in United Technologies by 0.3% during the second quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock worth $3,643,000 after acquiring an additional 75 shares in the last quarter. Glenview State Bank Trust DEPT. raised its stake in United Technologies by 3.0% during the second quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock worth $331,000 after acquiring an additional 75 shares in the last quarter. Mcrae Capital Management Inc. raised its stake in United Technologies by 1.4% during the second quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock worth $715,000 after acquiring an additional 75 shares in the last quarter. Finally, Heritage Way Advisors LLC raised its stake in United Technologies by 0.4% during the second quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock worth $2,409,000 after acquiring an additional 75 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

In other United Technologies news, EVP Michael R. Dumais sold 4,329 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the transaction, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at $5,142,929.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth B. Amato sold 4,298 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the transaction, the executive vice president now directly owns 30,847 shares in the company, valued at $4,186,246.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,567 shares of company stock worth $8,030,281. Insiders own 0.15% of the company’s stock.

UTX stock traded up $0.87 during trading on Friday, hitting $138.33. The company had a trading volume of 315,077 shares, compared to its average volume of 2,424,325. The business has a 50-day moving average of $130.05 and a 200-day moving average of $130.91. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40. The stock has a market cap of $115.55 billion, a PE ratio of 18.17, a PEG ratio of 1.89 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93.

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

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