The California State Teachers Retirement System Increases Position in United Technologies Corporation (UTX)

The California State Teachers Retirement System Increases Position in United Technologies Corporation (UTX)

California State Teachers Retirement System boosted its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,709,029 shares of the company’s stock after buying an additional 14,400 shares during the period. California State Teachers Retirement System’s holdings in United Technologies Corporation were worth $173,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. W.G. Shaheen & Associates DBA Whitney & Co increased its stake in United Technologies Corporation by 5.4% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 46,691 shares of the company’s stock valued at $4,788,000 after buying an additional 2,390 shares during the period. CIBC World Markets Inc. increased its stake in United Technologies Corporation by 58.6% in the second quarter. CIBC World Markets Inc. now owns 20,435 shares of the company’s stock valued at $2,096,000 after buying an additional 7,547 shares during the period. S&CO Inc. increased its stake in United Technologies Corporation by 34.3% in the second quarter. S&CO Inc. now owns 4,700 shares of the company’s stock valued at $482,000 after buying an additional 1,200 shares during the period. Pineno Levin & Ford Asset Management Inc. increased its stake in United Technologies Corporation by 3.0% in the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 2,404 shares of the company’s stock valued at $247,000 after buying an additional 71 shares during the period. Finally, Country Club Trust Company n.a. increased its stake in United Technologies Corporation by 3.3% in the second quarter. Country Club Trust Company n.a. now owns 72,399 shares of the company’s stock valued at $7,425,000 after buying an additional 2,310 shares during the period. Institutional investors and hedge funds own 78.30% of the company’s stock.

United Technologies Corporation (NYSE:UTX) opened at 110.42 on Thursday. The stock has a market capitalization of $90.92 billion, a PE ratio of 12.62 and a beta of 1.11. United Technologies Corporation has a 12-month low of $83.85 and a 12-month high of $112.83. The company’s 50-day moving average is $109.93 and its 200 day moving average is $105.79.

United Technologies Corporation (NYSE:UTX) last posted its earnings results on Tuesday, October 25th. The company reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.09. United Technologies Corporation had a net margin of 12.87% and a return on equity of 18.28%. The firm earned $14.40 billion during the quarter, compared to analysts’ expectations of $12.28 billion. During the same period last year, the company posted $1.67 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that United Technologies Corporation will post $6.59 earnings per share for the current fiscal year.

Several research firms have weighed in on UTX. Royal Bank Of Canada decreased their price target on shares of United Technologies Corporation from $121.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, January 12th. Credit Suisse Group AG raised shares of United Technologies Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $108.00 to $125.00 in a research note on Monday, December 19th. RBC Capital Markets began coverage on shares of United Technologies Corporation in a research note on Thursday, January 12th. They issued a “sector perform” rating and a $118.00 price target for the company. Stifel Nicolaus reaffirmed a “hold” rating on shares of United Technologies Corporation in a research note on Wednesday, October 26th. Finally, Vetr downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $106.05 price target for the company. in a research note on Monday, November 7th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $113.09.

In other news, VP Robert J. Bailey sold 967 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $106.46, for a total value of $102,946.82. Following the completion of the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $212,920. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian C. Rogers purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 7th. The stock was acquired at an average price of $107.94 per share, with a total value of $539,700.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $539,700. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.

United Technologies Corporation Company 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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.

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 Corporation (NYSE:UTX).

Related posts

Leave a Comment