United Technologies Co. (UTX) Stake Lessened by Trustco Bank Corp N Y

Trustco Bank Corp N Y lowered its stake in shares of United Technologies Co. (NYSE:UTX) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 18,586 shares of the conglomerate’s stock after selling 170 shares during the quarter. United Technologies accounts for 3.7% of Trustco Bank Corp N Y’s holdings, making the stock its 10th largest position. Trustco Bank Corp N Y’s holdings in United Technologies were worth $1,979,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Point View Wealth Management Inc. boosted its stake in United Technologies by 2.4% during the fourth quarter. Point View Wealth Management Inc. now owns 3,600 shares of the conglomerate’s stock worth $383,000 after buying an additional 85 shares during the period. Newman Dignan & Sheerar Inc. boosted its stake in United Technologies by 1.1% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 8,234 shares of the conglomerate’s stock worth $877,000 after buying an additional 86 shares during the period. Cim LLC boosted its stake in United Technologies by 4.0% during the fourth quarter. Cim LLC now owns 2,280 shares of the conglomerate’s stock worth $243,000 after buying an additional 87 shares during the period. Pineno Levin & Ford Asset Management Inc. boosted its stake in United Technologies by 2.0% during the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 4,794 shares of the conglomerate’s stock worth $510,000 after buying an additional 93 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in United Technologies by 3.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,221 shares of the conglomerate’s stock worth $343,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Several research analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of United Technologies in a research note on Friday, February 22nd. They set an “overweight” rating and a $132.00 price objective for the company. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Goldman Sachs Group raised shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 target price for the company in a research note on Friday, February 1st. Royal Bank of Canada boosted their target price on shares of United Technologies to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, January 24th. Finally, Bank of America reissued a “buy” rating and set a $185.00 target price on shares of United Technologies in a research note on Thursday, January 24th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and an average price target of $144.00.

UTX stock opened at $135.34 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $116.03 billion, a P/E ratio of 17.78, a PEG ratio of 1.93 and a beta of 1.20. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.15.

United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.42. The firm had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $16.87 billion. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. On average, sell-side analysts anticipate that United Technologies Co. will post 7.92 EPS for the current fiscal year.

In related news, Chairman Gregory Hayes sold 35,942 shares of United Technologies stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $123.81, for a total value of $4,449,979.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Bailey sold 862 shares of United Technologies stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $121.71, for a total value of $104,914.02. The disclosure for this sale can be found here. Insiders sold 97,770 shares of company stock valued at $12,153,044 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

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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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