Pictet & Cie Europe SA Purchases 6,540 Shares of United Technologies Co. (UTX)

Pictet & Cie Europe SA lifted its position in United Technologies Co. (NYSE:UTX) by 8.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,548 shares of the conglomerate’s stock after purchasing an additional 6,540 shares during the quarter. United Technologies accounts for 1.3% of Pictet & Cie Europe SA’s portfolio, making the stock its 21st largest position. Pictet & Cie Europe SA’s holdings in United Technologies were worth $9,350,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Knowledge Leaders Capital LLC bought a new stake in United Technologies in the third quarter valued at $105,000. Tortoise Investment Management LLC grew its position in United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares during the period. Seven Bridges Advisors LLC bought a new stake in United Technologies in the second quarter valued at $120,000. Thompson Davis & CO. Inc. grew its position in United Technologies by 750.4% in the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after acquiring an additional 953 shares during the period. Finally, Winfield Associates Inc. grew its position in United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 80.07% of the company’s stock.

A number of analysts have weighed in on UTX shares. Royal Bank of Canada reiterated a “hold” rating and issued a $126.00 price target on shares of United Technologies in a research report on Tuesday, October 10th. Zacks Investment Research cut United Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Cowen reiterated a “hold” rating and issued a $120.00 price target on shares of United Technologies in a research report on Tuesday, October 24th. Stifel Nicolaus increased their target price on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. United Technologies presently has an average rating of “Hold” and an average target price of $125.63.

In related news, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $252,020. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,466 shares of company stock worth $2,019,274. 0.16% of the stock is owned by company insiders.

Shares of United Technologies Co. (NYSE:UTX) opened at $134.42 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The company has a market capitalization of $106,984.41, a price-to-earnings ratio of 20.84, a PEG ratio of 2.33 and a beta of 1.07. United Technologies Co. has a 1-year low of $106.85 and a 1-year high of $137.73.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. research analysts expect that United Technologies Co. will post 6.61 EPS for the current fiscal year.

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United Technologies Company Profile

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 (NYSE:UTX)

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