United Technologies Corporation (UTX) Position Held by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan maintained its stake in shares of United Technologies Corporation (NYSE:UTX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,000 shares of the conglomerate’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in United Technologies Corporation were worth $3,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Riggs Asset Managment Co. Inc. raised its holdings in shares of United Technologies Corporation by 14.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 125 shares in the last quarter. Winfield Associates Inc. raised its holdings in shares of United Technologies Corporation by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after acquiring an additional 29 shares in the last quarter. Alexandria Capital LLC raised its holdings in shares of United Technologies Corporation by 0.3% in the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares in the last quarter. Exane Derivatives purchased a new stake in shares of United Technologies Corporation in the 2nd quarter valued at about $141,000. Finally, Proficio Capital Partners LLC raised its holdings in shares of United Technologies Corporation by 42.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,298 shares of the conglomerate’s stock valued at $158,000 after acquiring an additional 386 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

United Technologies Corporation (NYSE UTX) opened at 118.12 on Wednesday. The company’s 50 day moving average price is $115.00 and its 200-day moving average price is $118.06. The stock has a market capitalization of $94.35 billion, a PE ratio of 17.99 and a beta of 1.05. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79.

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

Several research firms have weighed in on UTX. BidaskClub raised United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $135.00 price target (up previously from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Vertical Research cut United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a report on Tuesday, September 5th. Deutsche Bank AG lowered their price target on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Wednesday, September 6th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $136.00 price target on shares of United Technologies Corporation in a report on Wednesday, July 26th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $125.27.

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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.

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

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