Strs Ohio Trims Position in United Technologies Co. (NYSE:UTX)

Strs Ohio decreased its holdings in United Technologies Co. (NYSE:UTX) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 756,971 shares of the conglomerate’s stock after selling 57,441 shares during the quarter. Strs Ohio’s holdings in United Technologies were worth $113,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in UTX. Phocas Financial Corp. purchased a new stake in United Technologies in the second quarter worth about $25,000. Transamerica Financial Advisors Inc. bought a new stake in United Technologies during the 2nd quarter valued at approximately $30,000. Accurate Investment Solutions Inc. bought a new stake in United Technologies during the 4th quarter valued at approximately $30,000. Savior LLC purchased a new position in shares of United Technologies during the 4th quarter worth approximately $32,000. Finally, American National Bank purchased a new position in shares of United Technologies during the 3rd quarter worth approximately $34,000. 80.91% of the stock is owned by institutional investors.

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

In related news, VP Robert J. Bailey sold 1,299 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $387,842. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael R. Dumais sold 6,554 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $145.91, for a total transaction of $956,294.14. Following the sale, the executive vice president now owns 37,173 shares of the company’s stock, valued at $5,423,912.43. The disclosure for this sale can be found here. Insiders have sold 69,015 shares of company stock valued at $10,163,321 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

UTX stock traded down $0.60 on Friday, reaching $153.20. 2,526,978 shares of the company traded hands, compared to its average volume of 2,619,403. The firm has a fifty day simple moving average of $150.73 and a 200-day simple moving average of $140.08. The company has a market cap of $132.76 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.22. United Technologies Co. has a one year low of $113.77 and a one year high of $155.53. 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 (NYSE:UTX) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.18. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.31 billion. During the same period in the previous year, the company posted $1.93 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, sell-side analysts forecast that United Technologies Co. will post 8.13 EPS for the current year.

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.

Further Reading: Why does a company issue an IPO?

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

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