Carroll Financial Associates Inc. Cuts Holdings in United Technologies Co. (UTX)

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Carroll Financial Associates Inc. lowered its position in shares of United Technologies Co. (NYSE:UTX) by 73.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,252 shares of the conglomerate’s stock after selling 33,454 shares during the quarter. Carroll Financial Associates Inc.’s holdings in United Technologies were worth $1,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UTX. Fort L.P. acquired a new stake in shares of United Technologies during the 2nd quarter worth approximately $120,000. Psagot Investment House Ltd. acquired a new stake in shares of United Technologies during the 3rd quarter worth approximately $134,000. Adalta Capital Management LLC acquired a new stake in shares of United Technologies during the 2nd quarter worth approximately $163,000. Kiley Juergens Wealth Management LLC raised its position in shares of United Technologies by 42.6% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,453 shares of the conglomerate’s stock worth $203,000 after purchasing an additional 434 shares during the period. Finally, Paulson Wealth Management Inc. acquired a new stake in shares of United Technologies during the 3rd quarter worth approximately $204,000. Hedge funds and other institutional investors own 82.01% of the company’s stock.

A number of brokerages have recently weighed in on UTX. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Barclays dropped their price target on United Technologies from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, November 23rd. Citigroup reiterated a “neutral” rating and set a $120.00 price target (down from $125.00) on shares of United Technologies in a research report on Thursday, January 3rd. Finally, Robert W. Baird dropped their price target on United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 28th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $145.46.

Shares of UTX stock opened at $109.95 on Friday. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.15. The company has a market capitalization of $87.56 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The business had revenue of $16.51 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the prior year, the company posted $1.73 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts forecast that United Technologies Co. will post 7.17 EPS for the current fiscal year.

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United Technologies 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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