Parisi Gray Wealth Management Has $250,000 Position in United Technologies Co. (NYSE:UTX)

Parisi Gray Wealth Management grew its stake in shares of United Technologies Co. (NYSE:UTX) by 7.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,672 shares of the conglomerate’s stock after purchasing an additional 110 shares during the period. Parisi Gray Wealth Management’s holdings in United Technologies were worth $250,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in UTX. Phocas Financial Corp. bought a new stake in United Technologies during the second quarter worth about $25,000. Transamerica Financial Advisors Inc. bought a new stake in United Technologies during the second quarter worth about $30,000. Accurate Investment Solutions Inc. bought a new stake in United Technologies during the fourth quarter worth about $30,000. Savior LLC bought a new stake in United Technologies during the fourth quarter worth about $32,000. Finally, American National Bank bought a new stake in United Technologies during the third quarter worth about $34,000. 80.91% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Michael R. Dumais sold 6,554 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $145.91, for a total value of $956,294.14. Following the transaction, the executive vice president now directly owns 37,173 shares in the company, valued at $5,423,912.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Bailey sold 1,299 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 2,600 shares in the company, valued at $387,842. The disclosure for this sale can be found here. Insiders have sold 69,015 shares of company stock worth $10,163,321 over the last three months. 0.15% of the stock is owned by insiders.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. UBS Group upped their price objective on shares of United Technologies from $157.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, November 28th. Credit Suisse Group set a $162.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Cowen reaffirmed a “buy” rating and set a $169.00 price objective on shares of United Technologies in a research note on Wednesday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. United Technologies presently has a consensus rating of “Buy” and a consensus price target of $160.79.

Shares of UTX traded down $0.44 during mid-day trading on Friday, hitting $152.89. 233,838 shares of the company traded hands, compared to its average volume of 2,619,403. United Technologies Co. has a one year low of $113.77 and a one year high of $155.53. The company has a current ratio of 1.06, a quick ratio of 0.75 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average of $150.73 and a 200 day moving average of $140.08. The stock has a market capitalization of $132.76 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 2.01 and a beta of 1.22.

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

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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