TCI Wealth Advisors Inc. Raises Stock Position in United Technologies Co. (NYSE:UTX)

TCI Wealth Advisors Inc. boosted its holdings in United Technologies Co. (NYSE:UTX) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,035 shares of the conglomerate’s stock after purchasing an additional 426 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in United Technologies were worth $455,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Phocas Financial Corp. acquired a new position in shares of United Technologies during the second quarter valued at $25,000. Accurate Investment Solutions Inc. purchased a new position in United Technologies in the 4th quarter worth about $30,000. Savior LLC purchased a new position in United Technologies in the 4th quarter worth about $32,000. Transamerica Financial Advisors Inc. purchased a new position in United Technologies in the 2nd quarter worth about $30,000. Finally, American National Bank purchased a new position in United Technologies in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 81.00% of the company’s stock.

A number of brokerages have commented on UTX. Credit Suisse Group set a $162.00 price objective on United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 28th. UBS Group raised their price objective on United Technologies from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. raised their price objective on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Cowen restated a “buy” rating and set a $169.00 price objective on shares of United Technologies in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $160.79.

Shares of United Technologies stock opened at $151.02 on Monday. The firm has a market cap of $132.24 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.00 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. United Technologies Co. has a 52-week low of $113.77 and a 52-week high of $155.53. The stock has a 50-day simple moving average of $150.89 and a 200-day simple moving average of $140.18.

In other news, CEO Gregory Hayes sold 27,987 shares of United Technologies stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $147.79, for a total transaction of $4,136,198.73. Following the completion of the sale, the chief executive officer now directly owns 287,649 shares in the company, valued at approximately $42,511,645.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 1,299 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total value of $193,771.83. Following the sale, the vice president now owns 2,600 shares in the company, valued at $387,842. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,015 shares of company stock valued at $10,163,321. Corporate insiders own 0.15% of the company’s stock.

About United Technologies

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: Dividend Aristocrat Index

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

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