Shell Asset Management Co. Decreases Stock Holdings in United Technologies Co. (NYSE:UTX)

Shell Asset Management Co. reduced its stake in shares of United Technologies Co. (NYSE:UTX) by 10.5% during the first quarter, Holdings Channel reports. The firm owned 64,965 shares of the conglomerate’s stock after selling 7,618 shares during the quarter. Shell Asset Management Co.’s holdings in United Technologies were worth $6,128,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of UTX. Orser Capital Management LLC increased its position in United Technologies by 81.3% during the 4th quarter. Orser Capital Management LLC now owns 2,029 shares of the conglomerate’s stock valued at $304,000 after purchasing an additional 910 shares during the period. Savior LLC purchased a new position in United Technologies during the 4th quarter valued at $32,000. Weatherly Asset Management L. P. increased its position in United Technologies by 2.4% during the 4th quarter. Weatherly Asset Management L. P. now owns 3,268 shares of the conglomerate’s stock valued at $489,000 after purchasing an additional 78 shares during the period. J.W. Cole Advisors Inc. purchased a new position in United Technologies during the 4th quarter valued at $2,022,000. Finally, Segment Wealth Management LLC increased its position in United Technologies by 30.8% during the 4th quarter. Segment Wealth Management LLC now owns 2,921 shares of the conglomerate’s stock valued at $438,000 after purchasing an additional 687 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.

UTX has been the topic of a number of research analyst reports. ValuEngine raised shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Benchmark started coverage on shares of United Technologies in a research report on Friday, January 31st. They set a “buy” rating and a $186.00 price objective on the stock. Argus reaffirmed a “buy” rating and issued a $170.00 target price on shares of United Technologies in a research report on Wednesday, January 29th. Cowen reaffirmed an “outperform” rating and issued a $150.00 target price (down from $169.00) on shares of United Technologies in a research report on Thursday, March 5th. Finally, Barclays reaffirmed a “buy” rating and issued a $150.00 target price on shares of United Technologies in a research report on Friday, March 13th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $163.00.

United Technologies stock traded down $0.10 during mid-day trading on Friday, reaching $60.00. The stock had a trading volume of 6,502,019 shares, compared to its average volume of 7,298,222. The company has a market capitalization of $52.06 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 1.38 and a beta of 1.42. The company has a 50-day moving average price of $61.90 and a two-hundred day moving average price of $121.09. United Technologies Co. has a one year low of $69.02 and a one year high of $158.44. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77.

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.

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

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