Miracle Mile Advisors LLC purchased a new position in shares of United Technologies Co. (NYSE:UTX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,650 shares of the conglomerate’s stock, valued at approximately $338,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Knowledge Leaders Capital LLC purchased a new position in shares of United Technologies during the 3rd quarter valued at about $105,000. Wealthcare Advisory Partners LLC purchased a new position in shares of United Technologies during the 3rd quarter valued at about $118,000. Thompson Davis & CO. Inc. raised its stake in shares of United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after buying an additional 953 shares during the last quarter. Rowland & Co. Investment Counsel ADV raised its stake in shares of United Technologies by 0.3% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after buying an additional 3 shares during the last quarter. Finally, Aries Wealth Management purchased a new position in shares of United Technologies during the 4th quarter valued at about $204,000. 81.89% of the stock is owned by institutional investors.
UTX stock traded up $1.10 during trading on Monday, hitting $123.81. The stock had a trading volume of 3,507,415 shares, compared to its average volume of 5,024,064. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80. United Technologies Co. has a twelve month low of $109.10 and a twelve month high of $139.24. The stock has a market cap of $98,140.80, a price-to-earnings ratio of 18.62, a PEG ratio of 1.86 and a beta of 1.08.
In related news, VP Robert J. Bailey sold 2,032 shares of United Technologies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $134.95, for a total value of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.17% of the company’s stock.
A number of equities analysts have weighed in on UTX shares. Goldman Sachs upgraded United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Cowen reiterated a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research note on Thursday, January 25th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a research note on Saturday, January 20th. Finally, Barclays assumed coverage on United Technologies in a research note on Thursday, February 15th. They issued an “overweight” rating and a $157.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $139.07.
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About United Technologies
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.
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