Wellington Shields Capital Management LLC Has $1.44 Million Holdings in United Technologies Corporation (NYSE:UTX)

Wellington Shields Capital Management LLC boosted its holdings in shares of United Technologies Corporation (NYSE:UTX) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,793 shares of the conglomerate’s stock after purchasing an additional 1,000 shares during the period. Wellington Shields Capital Management LLC’s holdings in United Technologies Corporation were worth $1,440,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in UTX. PGGM Investments lifted its position in shares of United Technologies Corporation by 52.4% in the 2nd quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock valued at $91,486,000 after acquiring an additional 257,582 shares in the last quarter. Huntington National Bank lifted its position in shares of United Technologies Corporation by 3.7% in the 2nd quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock valued at $34,744,000 after acquiring an additional 10,025 shares in the last quarter. Private Wealth Advisors Inc. lifted its position in shares of United Technologies Corporation by 14.9% in the 1st quarter. Private Wealth Advisors Inc. now owns 23,551 shares of the conglomerate’s stock valued at $2,643,000 after acquiring an additional 3,051 shares in the last quarter. Pioneer Investment Management Inc. lifted its position in shares of United Technologies Corporation by 2.1% in the 1st quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock valued at $137,324,000 after acquiring an additional 25,625 shares in the last quarter. Finally, Smith Moore & CO. increased its stake in United Technologies Corporation by 11.7% in the 1st quarter. Smith Moore & CO. now owns 2,701 shares of the conglomerate’s stock valued at $303,000 after buying an additional 282 shares during the period. 78.85% of the stock is owned by institutional investors and hedge funds.

United Technologies Corporation (UTX) traded down 0.05% during midday trading on Friday, reaching $113.08. 6,529,563 shares of the company’s stock traded hands. The stock has a 50-day moving average of $115.87 and a 200 day moving average of $117.52. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79. The company has a market cap of $90.33 billion, a P/E ratio of 17.53 and a beta of 1.05.

United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The company had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. On average, analysts anticipate that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on UTX shares. UBS AG raised their target price on shares of United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Cowen and Company reiterated a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a research note on Tuesday, September 5th. Credit Suisse Group reiterated a “neutral” rating on shares of United Technologies Corporation in a research note on Friday, September 1st. Finally, BidaskClub lowered shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. United Technologies Corporation presently has a consensus rating of “Hold” and a consensus price target of $124.48.

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About United Technologies Corporation

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 Corporation (NYSE:UTX)

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