Point72 Hong Kong Ltd acquired a new position in United Technologies Co. (NYSE:UTX) in the 2nd quarter, HoldingsChannel reports. The firm acquired 4,135 shares of the conglomerate’s stock, valued at approximately $517,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its position in United Technologies by 0.9% during the 1st quarter. BlackRock Inc. now owns 47,285,799 shares of the conglomerate’s stock valued at $5,949,501,000 after purchasing an additional 435,497 shares during the last quarter. FMR LLC grew its position in United Technologies by 2.7% during the 2nd quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock valued at $3,308,428,000 after purchasing an additional 707,417 shares during the last quarter. Third Point LLC grew its position in United Technologies by 7.0% during the 2nd quarter. Third Point LLC now owns 7,600,000 shares of the conglomerate’s stock valued at $950,228,000 after purchasing an additional 500,000 shares during the last quarter. Boston Partners grew its position in United Technologies by 25.0% during the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock valued at $844,240,000 after purchasing an additional 1,349,539 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in United Technologies by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 4,086,665 shares of the conglomerate’s stock valued at $510,956,000 after purchasing an additional 150,259 shares during the last quarter. Institutional investors and hedge funds own 82.05% of the company’s stock.

Shares of NYSE UTX opened at $137.80 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.82. The stock has a market cap of $107.12 billion, a PE ratio of 20.72, a P/E/G ratio of 2.03 and a beta of 1.01. United Technologies Co. has a 52-week low of $112.65 and a 52-week high of $139.24.

United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.12. The firm had revenue of $16.71 billion for the quarter, compared to the consensus estimate of $16.26 billion. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.85 EPS. equities research analysts forecast that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.

Several brokerages recently commented on UTX. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. UBS Group initiated coverage on shares of United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. Morgan Stanley initiated coverage on shares of United Technologies in a report on Friday, June 15th. They set an “overweight” rating and a $160.00 price target on the stock. Wolfe Research initiated coverage on shares of United Technologies in a report on Wednesday, June 27th. They set an “outperform” rating on the stock. Finally, ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $146.78.

In related news, VP Robert J. Bailey sold 828 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total value of $111,573.00. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $269,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Charles D. Gill sold 14,255 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the completion of the transaction, the vice president now directly owns 55,029 shares in the company, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last three months, insiders sold 18,511 shares of company stock worth $2,521,974. 0.17% of the stock is currently owned by insiders.

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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