United Technologies Co. (NYSE:UTX) is Canandaigua National Bank & Trust Co.’s 6th Largest Position

Canandaigua National Bank & Trust Co. cut its position in shares of United Technologies Co. (NYSE:UTX) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,132 shares of the conglomerate’s stock after selling 729 shares during the quarter. United Technologies comprises 2.7% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 6th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in United Technologies were worth $15,745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Nuveen Asset Management LLC grew its stake in shares of United Technologies by 1,510.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock worth $433,442,000 after buying an additional 3,122,355 shares during the last quarter. Millennium Management LLC raised its position in shares of United Technologies by 184.4% in the 3rd quarter. Millennium Management LLC now owns 1,001,644 shares of the conglomerate’s stock worth $136,744,000 after purchasing an additional 649,502 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of United Technologies by 228.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 845,693 shares of the conglomerate’s stock worth $115,454,000 after purchasing an additional 588,243 shares during the last quarter. Primecap Management Co. CA boosted its stake in United Technologies by 84.1% in the 2nd quarter. Primecap Management Co. CA now owns 1,116,162 shares of the conglomerate’s stock worth $145,324,000 after purchasing an additional 510,000 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in United Technologies by 22.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,002,606 shares of the conglomerate’s stock worth $260,739,000 after purchasing an additional 370,601 shares in the last quarter. 80.87% of the stock is currently owned by institutional investors.

In other news, VP Robert J. Bailey sold 1,299 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total transaction of $193,771.83. Following the sale, the vice president now directly owns 2,600 shares in the company, valued at approximately $387,842. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher T. Calio sold 2,773 shares of United Technologies stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $143.01, for a total transaction of $396,566.73. Following the transaction, the insider now owns 9,201 shares in the company, valued at approximately $1,315,835.01. The disclosure for this sale can be found here. Insiders have sold a total of 90,810 shares of company stock worth $13,277,336 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Shares of UTX traded up $0.65 during trading hours on Friday, hitting $154.20. The stock had a trading volume of 228,427 shares, compared to its average volume of 2,944,811. The firm has a market capitalization of $130.82 billion, a PE ratio of 20.26, a PEG ratio of 1.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. United Technologies Co. has a 12 month low of $110.30 and a 12 month high of $154.65. The stock has a fifty day moving average price of $149.69 and a 200 day moving average price of $139.29.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.18. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.93 EPS. As a group, analysts anticipate that United Technologies Co. will post 8.13 EPS for the current fiscal year.

UTX has been the subject of a number of analyst reports. UBS Group raised their price objective on shares of United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Cowen upped their target price on shares of United Technologies from $150.00 to $169.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 28th. Finally, Credit Suisse Group set a $162.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. United Technologies presently has an average rating of “Buy” and a consensus target price of $160.79.

About United Technologies

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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