Wafra Investment Advisory Group Inc decreased its stake in United Technologies Corp. (UTX) by 22.12% based on its latest 2016Q3 regulatory filing with the SEC. Wafra Investment Advisory Group Inc sold 44,421 shares as the company’s stock declined 1.10% while stock markets rallied. The institutional investor held 156,375 shares of the aerospace company at the end of 2016Q3, valued at $15.89M, down from 200,796 at the end of the previous reported quarter. Wafra Investment Advisory Group Inc who had been investing in United Technologies Corp. for a number of months, seems to be less bullish one the $91.18B market cap company. The stock is down 0.25% or $0.28 after the negative news, hitting $110.98 per share. About 519,150 shares traded hands. United Technologies Corporation (NYSE:UTX) has risen 9.67% since June 7, 2016 and is uptrending. It has outperformed by 2.25% the S&P500.
Wafra Investment Advisory Group Inc, which manages about $7.55 billion and $1.34B US Long portfolio, upped its stake in Delphi Automotive Plc by 44,135 shares to 151,645 shares, valued at $10.82 million in 2016Q3, according to the filing. It also increased its holding in Micron Technology (NASDAQ:MU) by 311,831 shares in the quarter, for a total of 556,505 shares, and has risen its stake in Spdr S&P 500 Etf Trust (SPY).
Wafra Investment Advisory Group Inc is a New York-based institutional investor with more than $7.55 billion AUM in January, 2015. This fund invests only a small percentage of its assets in equities and options. Taken from Wafra Investment Advisory Group latest Adv, the fund reported to have 72 full and part-time employees. Among which 43 performing investment advisory and research functions. The institutional investor had between 26-100 clients.
Insitutional Activity: The institutional sentiment increased to 1.06 in Q3 2016. Its up 0.08, from 0.98 in 2016Q2. The ratio improved, as 47 funds sold all UTX shares owned while 505 reduced positions. 100 funds bought stakes while 486 increased positions. They now own 629.95 million shares or 3.85% less from 655.21 million shares in 2016Q2. Cls Invests Ltd Llc last reported 92 shares in the company. State Of New Jersey Common Pension Fund D last reported 0.48% of its portfolio in the stock. Signature Fincl Mngmt Incorporated last reported 0.19% of its portfolio in the stock. Stack Fin Inc holds 3.95% of its portfolio in United Technologies Corporation (NYSE:UTX) for 333,277 shares. Cohen Steers owns 88,500 shares or 0.02% of their US portfolio. Maryland Cap Mngmt has invested 0.05% of its portfolio in United Technologies Corporation (NYSE:UTX). Lenox Wealth Advsrs accumulated 0.01% or 245 shares. Budros Ruhlin Roe, a Ohio-based fund reported 5,355 shares. The Virginia-based Kanawha Capital has invested 2.2% in United Technologies Corporation (NYSE:UTX). Moreover, Menora Mivtachim Hldgs Limited has 0.16% invested in United Technologies Corporation (NYSE:UTX) for 28,759 shares. Arrow Fincl has 0.59% invested in the company for 22,746 shares. Ferguson Wellman Management Incorporated holds 142,186 shares or 0.62% of its portfolio. The Georgia-based Buckhead Capital Mgmt Ltd Com has invested 0.04% in United Technologies Corporation (NYSE:UTX). South Dakota Investment Council has invested 0.24% of its portfolio in United Technologies Corporation (NYSE:UTX). Sprucegrove Invest Management owns 510,800 shares or 2.17% of their US portfolio.
Insider Transactions: Since July 27, 2016, the stock had 1 buy, and 9 selling transactions for $9.66 million net activity. Gill Charles D had sold 6,202 shares worth $676,032. The insider Bailey Robert J. sold 967 shares worth $102,946. 2,109 shares were sold by JOHRI AKHIL, worth $229,923. $1.71 million worth of shares were sold by HAYES GREGORY on Monday, November 14. Dumais Michael R sold $251,460 worth of stock. 5,000 shares were bought by ROGERS BRIAN C, worth $539,684 on Wednesday, December 7. DELPECH PHILIPPE also sold $4.40 million worth of United Technologies Corporation (NYSE:UTX) shares.
Analysts await United Technologies Corporation (NYSE:UTX) to report earnings on January, 25. They expect $1.58 EPS, up 3.27% or $0.05 from last year’s $1.53 per share. UTX’s profit will be $1.30 billion for 17.56 P/E if the $1.58 EPS becomes a reality. After $1.76 actual EPS reported by United Technologies Corporation for the previous quarter, Wall Street now forecasts -10.23% negative EPS growth.
More important recent United Technologies Corporation (NYSE:UTX) news were published by: Seekingalpha.com which released: “Time To Sell United Technologies” on January 09, 2017, also Fool.com published article titled: “What United Technologies Corporation Must Do in 2017”, Prnewswire.com published: “Diane Bryant, Of Intel Corporation, To Join United Technologies Board Of Directors” on December 14, 2016. More interesting news about United Technologies Corporation (NYSE:UTX) was released by: Zacks.com and their article: “United Technologies Remains Well Poised for Organic Growth” with publication date: December 27, 2016.
According to Zacks Investment Research, “United Technologies Corporation provides a broad range of high technology products and services to the building systems and aerospace industries. Those products include Pratt & Whitney aircraft engines, space propulsion systems and industrial gas turbines; Carrier heating, air conditioning and refrigeration; Otis elevator, escalator and people movers; Hamilton Sundstrand aerospace and industrial products; Sikorsky helicopters and International Fuel Cells power systems. (Company Press Release)”
United Technologies Corporation (NYSE:UTX) Ratings Coverage
Out of 19 analysts covering United Technologies Corporation (NYSE:UTX), 8 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 42% are positive. United Technologies Corporation has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Equal Weight” rating given on Monday, August 31 by Barclays Capital. As per Tuesday, October 6, the company rating was upgraded by Numis Securities. The rating was downgraded by Sterne Agee CRT to “Neutral” on Wednesday, January 6. The stock of United Technologies Corporation (NYSE:UTX) has “Buy” rating given on Monday, September 19 by UBS. The firm earned “Neutral” rating on Thursday, October 8 by JP Morgan. The stock of United Technologies Corporation (NYSE:UTX) earned “Hold” rating by Deutsche Bank on Monday, December 5. The firm earned “Buy” rating on Wednesday, July 22 by Argus Research. The stock has “Buy” rating given by Citigroup on Thursday, September 10. Deutsche Bank downgraded it to “Hold” rating and $112 target price in Wednesday, July 22 report. The rating was downgraded by Bernstein to “Mkt Perform” on Friday, January 8.
UTX Company Profile
United Technologies Corporation, incorporated on July 21, 1934, is engaged in providing high technology services and products to the building systems and aerospace industries around the world. The Firm operates through four divisions: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. The Company’s UTC Building & Industrial Systems unit, comprising the activities of Otis and UTC Climate, Controls & Security, is the well-known provider of building technologies. The unit offers elevator, escalator heating, ventilating, air-condition and refrigeration systems and services for buildings. Pratt & Whitney and UTC Aerospace Systems serve commercial and government clients in both the original equipment and aftermarket parts and services markets of the aerospace industry. Pratt & Whitney also provides products to certain industrial markets.
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