United Technologies Corp (UTX) Holder Peapack Gladstone Financial Corp Has Cut Its Holding

April 16, 2018 - By Richard Conner

United Technologies Corporation (NYSE:UTX) LogoInvestors sentiment decreased to 0.92 in Q4 2017. Its down 0.13, from 1.05 in 2017Q3. It dropped, as 58 investors sold UTX shares while 554 reduced holdings. 121 funds opened positions while 441 raised stakes. 624.06 million shares or 0.48% more from 621.08 million shares in 2017Q3 were reported. Silvercrest Asset Mngmt Group Inc Llc accumulated 113,144 shares. Laurion Capital Management Lp, a New York-based fund reported 77,993 shares. Cincinnati Finance owns 21,000 shares. Omers Administration reported 1.87 million shares stake. 44,861 were reported by Parsons Capital Mngmt Ri. Teacher Retirement Systems Of Texas reported 229,713 shares. Westover Cap Advisors Limited Liability Company invested in 0.61% or 8,716 shares. 234,700 are owned by Hightower Advsr Limited Liability Corp. Narwhal Cap Mgmt has invested 0.84% in United Technologies Corporation (NYSE:UTX). Moreover, Eastern Bankshares has 0.02% invested in United Technologies Corporation (NYSE:UTX) for 2,864 shares. First Pacific Ltd Co accumulated 5.27M shares. Prospector Ptnrs Ltd accumulated 49,530 shares. Glg LP stated it has 2,254 shares. Kingfisher Cap Ltd invested in 5,331 shares. 660,105 were reported by Chevy Chase Tru Hldg.

Since December 13, 2017, it had 0 insider buys, and 5 insider sales for $1.06 million activity. The insider Amato Elizabeth B sold 4,341 shares worth $546,600.

Peapack Gladstone Financial Corp decreased its stake in United Technologies Corp (UTX) by 1.41% based on its latest 2017Q4 regulatory filing with the SEC. Peapack Gladstone Financial Corp sold 2,462 shares as the company’s stock declined 1.53% with the market. The institutional investor held 172,437 shares of the aerospace company at the end of 2017Q4, valued at $22.00B, down from 174,899 at the end of the previous reported quarter. Peapack Gladstone Financial Corp who had been investing in United Technologies Corp for a number of months, seems to be less bullish one the $98.63 billion market cap company. The stock increased 0.46% or $0.56 during the last trading session, reaching $123.27. About 962,911 shares traded. United Technologies Corporation (NYSE:UTX) has risen 12.03% since April 16, 2017 and is uptrending. It has outperformed by 0.48% the S&P500.

Peapack Gladstone Financial Corp, which manages about $1862.93 billion US Long portfolio, upped its stake in Laboratory Corp America Holdings (NYSE:LH) by 479 shares to 91,786 shares, valued at $14.64 billion in 2017Q4, according to the filing. It also increased its holding in Bce Inc (NYSE:BCE) by 1,100 shares in the quarter, for a total of 24,338 shares, and has risen its stake in Salesforce.Com (NYSE:CRM).

Analysts await United Technologies Corporation (NYSE:UTX) to report earnings on April, 25. They expect $1.51 earnings per share, up 2.03 % or $0.03 from last year’s $1.48 per share. UTX’s profit will be $1.21B for 20.41 P/E if the $1.51 EPS becomes a reality. After $1.60 actual earnings per share reported by United Technologies Corporation for the previous quarter, Wall Street now forecasts -5.63 % negative EPS growth.

United Technologies Corporation (NYSE:UTX) Ratings Coverage

Among 11 analysts covering United Technologies (NYSE:UTX), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. United Technologies had 20 analyst reports since October 25, 2017 according to SRatingsIntel. Cowen & Co maintained United Technologies Corporation (NYSE:UTX) rating on Monday, January 22. Cowen & Co has “Hold” rating and $141.0 target. UBS maintained United Technologies Corporation (NYSE:UTX) on Thursday, March 15 with “Buy” rating. Stifel Nicolaus maintained the stock with “Hold” rating in Thursday, February 15 report. The company was maintained on Friday, November 10 by RBC Capital Markets. The firm earned “Buy” rating on Monday, January 8 by Goldman Sachs. The stock has “Overweight” rating by Barclays Capital on Monday, February 26. The stock of United Technologies Corporation (NYSE:UTX) earned “Overweight” rating by Atlantic Securities on Tuesday, December 5. The stock has “Buy” rating by RBC Capital Markets on Tuesday, January 23. Robert W. Baird upgraded the shares of UTX in report on Friday, January 5 to “Outperform” rating. As per Thursday, January 25, the company rating was maintained by Jefferies.

United Technologies Corporation (NYSE:UTX) Institutional Positions Chart

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