OLD National Bancorp IN Sells 741 Shares of United Technologies Co. (UTX)

OLD National Bancorp IN lowered its stake in shares of United Technologies Co. (NYSE:UTX) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,609 shares of the conglomerate’s stock after selling 741 shares during the quarter. OLD National Bancorp IN’s holdings in United Technologies were worth $4,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of UTX. Knowledge Leaders Capital LLC purchased a new position in United Technologies in the third quarter valued at $105,000. Wealthcare Advisory Partners LLC purchased a new position in United Technologies in the third quarter valued at $118,000. Thompson Davis & CO. Inc. increased its holdings in 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 buying an additional 953 shares during the last quarter. Rowland & Co. Investment Counsel ADV increased its holdings in United Technologies by 0.3% in the second 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 United Technologies in the fourth quarter valued at $204,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

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In other news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the completion of the sale, the vice president now owns 4,900 shares in the company, valued at $661,255. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert J. Bailey sold 419 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $133.73, for a total transaction of $56,032.87. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Several research firms recently commented on UTX. Zacks Investment Research lowered United Technologies from a “hold” rating to a “sell” rating in a report on Friday. Sanford C. Bernstein reissued a “positive” rating and issued a $153.00 target price (up previously from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Stifel Nicolaus reissued a “hold” rating and issued a $146.00 target price (up previously from $124.00) on shares of United Technologies in a report on Thursday, January 25th. UBS began coverage on United Technologies in a report on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 target price on the stock. Finally, Royal Bank of Canada raised United Technologies from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. United Technologies currently has an average rating of “Buy” and a consensus target price of $139.07.

NYSE UTX traded up $1.10 during trading hours on Monday, hitting $123.81. The company had a trading volume of 3,507,415 shares, compared to its average volume of 5,024,064. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94. United Technologies Co. has a 1-year low of $109.10 and a 1-year high of $139.24. The company has a market capitalization of $98,140.80, a PE ratio of 18.62, a P/E/G ratio of 1.86 and a beta of 1.08.

United Technologies (NYSE:UTX) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The business had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. research analysts expect that United Technologies Co. will post 7.04 earnings per share for the current year.

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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.

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

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