State of New Jersey Common Pension Fund D lowered its position in shares of United Technologies Corporation (NYSE:UTX) by 33.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,000 shares of the conglomerate’s stock after selling 168,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in United Technologies Corporation were worth $40,541,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its stake in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 125 shares in the last quarter. Winfield Associates Inc. boosted its stake in United Technologies Corporation by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after acquiring an additional 29 shares in the last quarter. Alexandria Capital LLC boosted its stake in United Technologies Corporation by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares in the last quarter. Exane Derivatives acquired a new position in United Technologies Corporation in the second quarter valued at $141,000. Finally, Proficio Capital Partners LLC boosted its stake in United Technologies Corporation by 42.3% in the first quarter. Proficio Capital Partners LLC now owns 1,298 shares of the conglomerate’s stock valued at $158,000 after acquiring an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.
Several equities analysts have issued reports on the stock. BidaskClub upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Sanford C. Bernstein restated a “market perform” rating and issued a $135.00 price objective (up previously from $130.00) on shares of United Technologies Corporation in a research note on Friday, July 21st. Vertical Research downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Tuesday, September 5th. Deutsche Bank AG decreased their price objective on shares of United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Wednesday, September 6th. Finally, Credit Suisse Group restated a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. United Technologies Corporation has an average rating of “Hold” and an average target price of $125.27.
Shares of United Technologies Corporation (UTX) opened at 118.12 on Wednesday. The firm has a market cap of $94.35 billion, a P/E ratio of 17.99 and a beta of 1.05. The stock’s 50 day moving average is $115.00 and its 200 day moving average is $118.06. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the business posted $1.82 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.
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United Technologies Corporation Company Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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