Migdal Insurance & Financial Holdings Ltd. Trims Position in United Technologies Co. (UTX)

Migdal Insurance & Financial Holdings Ltd. lessened its holdings in United Technologies Co. (NYSE:UTX) by 93.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,352 shares of the conglomerate’s stock after selling 20,697 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in United Technologies were worth $158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in UTX. Vanguard Group Inc. increased its position in United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after acquiring an additional 848,623 shares during the last quarter. BlackRock Inc. increased its position in United Technologies by 0.3% during the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after acquiring an additional 133,036 shares during the last quarter. FMR LLC increased its position in United Technologies by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after acquiring an additional 2,401,795 shares during the last quarter. Capital Research Global Investors increased its position in United Technologies by 3.6% during the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after acquiring an additional 304,989 shares during the last quarter. Finally, Boston Partners increased its position in United Technologies by 5.3% during the third quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after acquiring an additional 274,184 shares during the last quarter. Institutional investors own 80.07% of the company’s stock.

In related news, VP Robert J. Bailey sold 864 shares of the company’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 sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $252,020. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth B. Amato sold 4,341 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the sale, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at $3,667,042.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,466 shares of company stock worth $2,019,274. Company insiders own 0.16% of the company’s stock.

A number of research firms have weighed in on UTX. Goldman Sachs Group upgraded shares of United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Cowen reiterated a “hold” rating and set a $120.00 price objective on shares of United Technologies in a research report on Tuesday, October 24th. Stifel Nicolaus boosted their price objective on shares of United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $125.63.

United Technologies Co. (UTX) opened at $134.90 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market cap of $107,730.00, a PE ratio of 20.88, a PEG ratio of 2.29 and a beta of 1.07. United Technologies Co. has a 1-year low of $106.85 and a 1-year high of $135.79.

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

WARNING: “Migdal Insurance & Financial Holdings Ltd. Trims Position in United Technologies Co. (UTX)” was first reported by Markets Daily and is the sole property of of Markets Daily. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this news story can be viewed at https://www.themarketsdaily.com/2018/01/11/migdal-insurance-financial-holdings-ltd-trims-position-in-united-technologies-co-utx.html.

United Technologies 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.

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

Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply