Amalgamated Bank grew its stake in shares of United Technologies Corporation (NYSE:UTX) by 55.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,196 shares of the conglomerate’s stock after purchasing an additional 29,987 shares during the period. Amalgamated Bank’s holdings in United Technologies were worth $10,281,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of UTX. BlackRock Inc. raised its stake in shares of United Technologies by 0.3% during the 2nd quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock worth $5,384,561,000 after buying an additional 133,036 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of United Technologies by 10.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,931,862 shares of the conglomerate’s stock worth $480,116,000 after buying an additional 387,125 shares during the last quarter. Legal & General Group Plc raised its stake in shares of United Technologies by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 3,729,056 shares of the conglomerate’s stock worth $455,358,000 after buying an additional 46,813 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of United Technologies by 0.6% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,517,626 shares of the conglomerate’s stock worth $429,537,000 after buying an additional 19,439 shares during the last quarter. Finally, Fiera Capital Corp raised its stake in shares of United Technologies by 14.8% during the 2nd quarter. Fiera Capital Corp now owns 3,013,096 shares of the conglomerate’s stock worth $367,929,000 after buying an additional 388,467 shares during the last quarter. Institutional investors own 80.20% of the company’s stock.
United Technologies Corporation (NYSE UTX) traded up $1.20 during midday trading on Friday, hitting $122.40. 3,608,400 shares of the stock were exchanged, compared to its average volume of 3,038,545. United Technologies Corporation has a one year low of $106.85 and a one year high of $124.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The firm has a market cap of $96,786.67, a P/E ratio of 18.31, a P/E/G ratio of 2.18 and a beta of 1.07.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The company had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the prior year, the company posted $1.76 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. analysts expect that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies’s dividend payout ratio is currently 43.41%.
In other news, VP Akhil Johri sold 5,979 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $121.03, for a total transaction of $723,638.37. Following the completion of the sale, the vice president now owns 23,295 shares in the company, valued at approximately $2,819,393.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 827 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,792 shares of company stock valued at $1,182,520. Corporate insiders own 0.16% of the company’s stock.
Several research analysts have recently issued reports on the company. Cowen reaffirmed a “hold” rating and set a $120.00 price target on shares of United Technologies in a research note on Tuesday, October 24th. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday. Stifel Nicolaus boosted their target price on shares of United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $126.00 target price on shares of United Technologies in a research note on Tuesday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. United Technologies presently has an average rating of “Hold” and a consensus price target of $125.15.
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United Technologies Company 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.
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