United Technologies Corporation (UTX) Shares Sold by Neuberger Berman Group LLC
Neuberger Berman Group LLC lessened its position in shares of United Technologies Corporation (NYSE:UTX) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 226,100 shares of the conglomerate’s stock after selling 14,512 shares during the period. Neuberger Berman Group LLC’s holdings in United Technologies Corporation were worth $27,609,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Boston Partners lifted its holdings in shares of United Technologies Corporation by 3.0% in the 1st quarter. Boston Partners now owns 5,385,002 shares of the conglomerate’s stock worth $604,251,000 after purchasing an additional 158,696 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of United Technologies Corporation by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 3,729,056 shares of the conglomerate’s stock worth $455,358,000 after purchasing an additional 46,813 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of United Technologies Corporation by 3.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,544,737 shares of the conglomerate’s stock worth $397,774,000 after purchasing an additional 125,003 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of United Technologies Corporation by 0.6% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,517,626 shares of the conglomerate’s stock worth $429,537,000 after purchasing an additional 19,439 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of United Technologies Corporation by 15.8% in the 1st quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock worth $384,887,000 after purchasing an additional 468,515 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.
In related news, EVP Michael R. Dumais sold 2,986 shares of United Technologies Corporation stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at approximately $3,332,757.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.
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United Technologies Corporation (NYSE:UTX) opened at $117.07 on Tuesday. United Technologies Corporation has a 1 year low of $106.21 and a 1 year high of $124.79. The stock has a market capitalization of $94,319.09, a price-to-earnings ratio of 17.84, a PEG ratio of 2.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31.
United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.76 EPS. sell-side analysts predict that United Technologies Corporation will post 6.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s payout ratio is 43.41%.
Several analysts recently issued reports on the company. Royal Bank Of Canada set a $126.00 price target on United Technologies Corporation and gave the stock a “hold” rating in a report on Sunday. Cowen and Company reissued a “hold” rating and issued a $120.00 price target on shares of United Technologies Corporation in a report on Friday. Zacks Investment Research raised United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Stifel Nicolaus raised their target price on United Technologies Corporation from $122.00 to $124.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG lowered their target price on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Wednesday, September 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. United Technologies Corporation presently has an average rating of “Hold” and an average target price of $125.15.
United Technologies Corporation 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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