Bank Pictet & Cie Asia Ltd. Grows Holdings in United Technologies Co. (UTX)
Bank Pictet & Cie Asia Ltd. raised its stake in shares of United Technologies Co. (NYSE:UTX) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,000 shares of the conglomerate’s stock after purchasing an additional 8,000 shares during the quarter. United Technologies accounts for 5.0% of Bank Pictet & Cie Asia Ltd.’s portfolio, making the stock its 8th largest holding. Bank Pictet & Cie Asia Ltd.’s holdings in United Technologies were worth $10,679,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Knowledge Leaders Capital LLC bought a new position in shares of United Technologies in the third quarter valued at approximately $105,000. Tortoise Investment Management LLC raised its stake in shares of United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares during the last quarter. Seven Bridges Advisors LLC bought a new position in shares of United Technologies in the second quarter valued at approximately $120,000. Thompson Davis & CO. Inc. raised its stake in shares of United Technologies by 750.4% in the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after acquiring an additional 953 shares during the last quarter. Finally, Winfield Associates Inc. raised its stake in shares of United Technologies 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 during the last quarter. 80.07% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on UTX. Goldman Sachs Group upgraded shares of United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Royal Bank of Canada upgraded shares of United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Finally, Cowen restated a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research report on Friday, November 10th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $125.63.
In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares in the company, valued at approximately $3,332,757.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 827 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. Insiders have sold a total of 16,466 shares of company stock valued at $2,019,274 in the last quarter. Corporate insiders own 0.16% of the company’s stock.
Shares of United Technologies Co. (UTX) opened at $134.42 on Thursday. The company has a market cap of $107,340.00, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.37 and a beta of 1.07. United Technologies Co. has a 1 year low of $106.85 and a 1 year high of $137.73. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 EPS. equities research analysts forecast that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.
United Technologies 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.
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.