Peapack Gladstone Financial Corp Stake in United Technologies Corp (UTX) Trimmed by $314.07 Million as Market Value Declined

April 16, 2018 - By Larry Anderson

United Technologies Corporation (NYSE:UTX) LogoInvestors sentiment decreased to 0.92 in 2017 Q4. Its down 0.13, from 1.05 in 2017Q3. It is negative, 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. Etrade Cap Management Lc holds 0.02% or 5,061 shares in its portfolio. Beese Fulmer Management has invested 0.05% in United Technologies Corporation (NYSE:UTX). First State Bank Trust Of Newtown has invested 0.06% of its portfolio in United Technologies Corporation (NYSE:UTX). Gm Advisory Grp Inc Inc, New York-based fund reported 1,976 shares. Edgar Lomax Va reported 117,387 shares. Glenview Retail Bank Tru Dept owns 0.14% invested in United Technologies Corporation (NYSE:UTX) for 2,368 shares. Baldwin Brothers Inc Ma stated it has 0.08% of its portfolio in United Technologies Corporation (NYSE:UTX). American Natl Registered Inv Advisor holds 0.46% or 7,555 shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh reported 35,576 shares. Mirae Asset holds 33,795 shares. Sfmg Limited Liability, a Texas-based fund reported 2,919 shares. Connor Clark & Lunn Invest holds 0.2% or 263,023 shares in its portfolio. Sonata Gru reported 0.15% stake. Prudential Public Limited Co owns 519,781 shares. Mckinley Carter Wealth Svcs holds 1.08% or 24,672 shares in its portfolio.

Since December 13, 2017, it had 0 insider purchases, and 5 sales for $1.06 million activity. Shares for $56,034 were sold by Bailey Robert J..

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 $98.63B 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 Magellan Midstream Partners Lp (NYSE:MMP) by 253 shares to 3,109 shares, valued at $220.55M in 2017Q4, according to the filing. It also increased its holding in Norfolk Southern Corp (NYSE:NSC) by 1,091 shares in the quarter, for a total of 7,768 shares, and has risen its stake in Powershares Qqq Trust (QQQ).

Analysts await United Technologies Corporation (NYSE:UTX) to report earnings on April, 25. They expect $1.51 EPS, 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 EPS 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. The firm earned “Overweight” rating on Tuesday, December 5 by Atlantic Securities. The firm has “Hold” rating by Stifel Nicolaus given on Thursday, January 25. On Monday, February 26 the stock rating was maintained by Barclays Capital with “Overweight”. The stock of United Technologies Corporation (NYSE:UTX) has “Buy” rating given on Friday, February 9 by Argus Research. The company was initiated on Tuesday, January 23 by UBS. The firm has “Hold” rating by Cowen & Co given on Monday, January 22. Goldman Sachs upgraded the stock to “Buy” rating in Monday, January 8 report. The rating was maintained by UBS on Thursday, March 15 with “Buy”. The company was upgraded on Friday, January 5 by Robert W. Baird. The stock has “Buy” rating by Jefferies on Monday, January 8.

United Technologies Corporation (NYSE:UTX) Institutional Positions Chart

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