MainStreet Investment Advisors LLC Increases Holdings in United Technologies Co. (NYSE:UTX)

MainStreet Investment Advisors LLC lifted its position in United Technologies Co. (NYSE:UTX) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,383 shares of the conglomerate’s stock after purchasing an additional 469 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in United Technologies were worth $602,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Cim LLC raised its position in United Technologies by 1.9% in the fourth quarter. Cim LLC now owns 3,497 shares of the conglomerate’s stock valued at $524,000 after purchasing an additional 66 shares during the period. Peninsula Wealth LLC raised its holdings in shares of United Technologies by 4.7% in the 4th quarter. Peninsula Wealth LLC now owns 1,581 shares of the conglomerate’s stock valued at $237,000 after buying an additional 71 shares during the period. Biltmore Family Office LLC raised its holdings in shares of United Technologies by 0.3% in the 4th quarter. Biltmore Family Office LLC now owns 23,649 shares of the conglomerate’s stock valued at $3,542,000 after buying an additional 76 shares during the period. Weatherly Asset Management L. P. raised its holdings in shares of United Technologies by 2.4% in the 4th quarter. Weatherly Asset Management L. P. now owns 3,268 shares of the conglomerate’s stock valued at $489,000 after buying an additional 78 shares during the period. Finally, Mcmillion Capital Management Inc. raised its holdings in shares of United Technologies by 0.3% in the 4th quarter. Mcmillion Capital Management Inc. now owns 24,098 shares of the conglomerate’s stock valued at $3,609,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 81.71% of the company’s stock.

UTX has been the topic of several research analyst reports. Credit Suisse Group cut their price objective on United Technologies from $177.00 to $172.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. They noted that the move was a valuation call. Barclays reiterated a “buy” rating and issued a $150.00 price objective on shares of United Technologies in a report on Friday, March 13th. Argus reiterated a “buy” rating and issued a $170.00 price objective on shares of United Technologies in a report on Wednesday, January 29th. Cowen reiterated an “outperform” rating and issued a $150.00 price objective (down previously from $169.00) on shares of United Technologies in a report on Thursday, March 5th. Finally, ValuEngine upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. United Technologies presently has an average rating of “Buy” and an average target price of $163.00.

UTX traded down $0.10 on Friday, hitting $60.00. 6,502,019 shares of the company were exchanged, compared to its average volume of 7,298,222. United Technologies Co. has a twelve month low of $69.02 and a twelve month high of $158.44. The company has a market cap of $52.06 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.42. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $61.90 and a two-hundred day moving average price of $121.09.

United Technologies Company 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.

Further Reading: Diluted Earnings Per Share

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

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