Meridian Management Co Decreased Its United Technologies (UTX) Holding by $2.80 Million; Share Value Rose; Novartis Ag (NVS) Holder Professional Advisory Services Lowered Its Position by $963,547

December 8, 2017 - By Marguerite Chambers

Meridian Management Co decreased its stake in United Technologies Corp (UTX) by 65.54% based on its latest 2017Q2 regulatory filing with the SEC. Meridian Management Co sold 22,932 shares as the company’s stock rose 8.03% with the market. The institutional investor held 12,055 shares of the aerospace company at the end of 2017Q2, valued at $1.47 million, down from 34,987 at the end of the previous reported quarter. Meridian Management Co who had been investing in United Technologies Corp for a number of months, seems to be less bullish one the $97.75 billion market cap company. The stock increased 0.99% or $1.2 during the last trading session, reaching $122.4. About 3.61M shares traded or 14.08% up from the average. United Technologies Corporation (NYSE:UTX) has risen 22.99% since December 8, 2016 and is uptrending. It has outperformed by 6.29% the S&P500.

Professional Advisory Services Inc decreased its stake in Novartis Ag (NVS) by 4.93% based on its latest 2017Q2 regulatory filing with the SEC. Professional Advisory Services Inc sold 11,609 shares as the company’s stock rose 4.17% with the market. The institutional investor held 223,738 shares of the major pharmaceuticals company at the end of 2017Q2, valued at $18.68 million, down from 235,347 at the end of the previous reported quarter. Professional Advisory Services Inc who had been investing in Novartis Ag for a number of months, seems to be less bullish one the $196.69B market cap company. The stock decreased 0.36% or $0.3 during the last trading session, reaching $82.88. About 691,589 shares traded. Novartis AG (NYSE:NVS) has risen 7.67% since December 8, 2016 and is uptrending. It has underperformed by 9.03% the S&P500.

Analysts await Novartis AG (NYSE:NVS) to report earnings on January, 24. They expect $1.16 earnings per share, up 3.57% or $0.04 from last year’s $1.12 per share. NVS’s profit will be $2.75 billion for 17.86 P/E if the $1.16 EPS becomes a reality. After $1.29 actual earnings per share reported by Novartis AG for the previous quarter, Wall Street now forecasts -10.08% negative EPS growth.

Professional Advisory Services Inc, which manages about $460.95M US Long portfolio, upped its stake in Tjx Companies (NYSE:TJX) by 39,926 shares to 212,815 shares, valued at $15.36 million in 2017Q2, according to the filing. It also increased its holding in Energy Select Sector Spdr (XLE) by 7,296 shares in the quarter, for a total of 192,851 shares, and has risen its stake in Bb&T Corporation (NYSE:BBT).

Another recent and important Novartis AG (NYSE:NVS) news was published by Investorplace.com which published an article titled: “3 Stocks to Watch on Friday: Novartis AG (ADR) (NVS), Nutanix Inc (NTNX) and …” on December 01, 2017.

Among 16 analysts covering Novartis Ag (NYSE:NVS), 5 have Buy rating, 4 Sell and 7 Hold. Therefore 31% are positive. Novartis Ag had 34 analyst reports since July 28, 2015 according to SRatingsIntel. JP Morgan downgraded the shares of NVS in report on Tuesday, January 3 to “Neutral” rating. The firm has “Underperform” rating given on Wednesday, October 28 by Mainfirst. The stock has “Market Perform” rating by Leerink Swann on Monday, October 23. The rating was maintained by J P Morgan Chase Co with “Neutral” on Friday, June 16. The rating was downgraded by Leerink Swann on Wednesday, March 23 to “Market Perform”. Barclays Capital upgraded the stock to “Hold” rating in Friday, June 23 report. Argus Research initiated the stock with “Hold” rating in Tuesday, April 5 report. Societe Generale upgraded the shares of NVS in report on Wednesday, March 8 to “Buy” rating. The stock has “Neutral” rating by JP Morgan on Friday, March 24. Cowen & Co maintained Novartis AG (NYSE:NVS) rating on Monday, July 10. Cowen & Co has “Hold” rating and $7700 target.

Meridian Management Co, which manages about $439.37 million and $190.00 million US Long portfolio, upped its stake in Range Res Corp (NYSE:RRC) by 22,960 shares to 50,770 shares, valued at $1.18 million in 2017Q2, according to the filing. It also increased its holding in Schwab Strategic Tr (SCHA) by 5,860 shares in the quarter, for a total of 77,829 shares, and has risen its stake in Vanguard Intl Equity Index F (VWO).

Analysts await United Technologies Corporation (NYSE:UTX) to report earnings on January, 24. They expect $1.56 EPS, 0.00% or $0.00 from last year’s $1.56 per share. UTX’s profit will be $1.25B for 19.62 P/E if the $1.56 EPS becomes a reality. After $1.73 actual EPS reported by United Technologies Corporation for the previous quarter, Wall Street now forecasts -9.83% negative EPS growth.

Among 21 analysts covering United Technologies Corporation (NYSE:UTX), 7 have Buy rating, 0 Sell and 14 Hold. Therefore 33% are positive. United Technologies Corporation has $139.0 highest and $100 lowest target. $119.88’s average target is -2.06% below currents $122.4 stock price. United Technologies Corporation had 67 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Monday, November 16 by Credit Suisse. On Tuesday, October 6 the stock rating was upgraded by Numis Securities to “Buy”. Citigroup maintained United Technologies Corporation (NYSE:UTX) on Thursday, September 10 with “Buy” rating. The firm has “Buy” rating given on Friday, July 7 by Jefferies. The stock has “Neutral” rating by CItigroup on Monday, October 10. Stifel Nicolaus maintained United Technologies Corporation (NYSE:UTX) on Friday, July 7 with “Hold” rating. The company was maintained on Monday, August 28 by Jefferies. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Tuesday, October 13. The firm has “Equal Weight” rating given on Monday, August 31 by Barclays Capital. Cowen & Co maintained United Technologies Corporation (NYSE:UTX) on Tuesday, October 10 with “Hold” rating.

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