Migdal Insurance & Financial Holdings Ltd. raised its position in shares of United Technologies Corporation (NYSE:UTX) by 33.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,049 shares of the conglomerate’s stock after purchasing an additional 5,572 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in United Technologies were worth $2,682,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goelzer Investment Management Inc. grew its stake in shares of United Technologies by 0.3% during the first quarter. Goelzer Investment Management Inc. now owns 48,204 shares of the conglomerate’s stock valued at $5,409,000 after buying an additional 138 shares during the last quarter. Lincoln National Corp grew its stake in shares of United Technologies by 102.1% during the first quarter. Lincoln National Corp now owns 4,961 shares of the conglomerate’s stock valued at $557,000 after buying an additional 2,506 shares during the last quarter. Thomaspartners Inc. grew its stake in shares of United Technologies by 9.1% during the first quarter. Thomaspartners Inc. now owns 2,401,311 shares of the conglomerate’s stock valued at $269,451,000 after buying an additional 200,659 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of United Technologies during the first quarter valued at about $40,211,000. Finally, Capital Analysts LLC grew its stake in shares of United Technologies by 9.0% during the first quarter. Capital Analysts LLC now owns 8,700 shares of the conglomerate’s stock valued at $976,000 after buying an additional 718 shares during the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.
United Technologies Corporation (UTX) traded up $0.49 during midday trading on Tuesday, hitting $123.30. The company had a trading volume of 3,137,400 shares, compared to its average volume of 3,038,797. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $98,072.38, a PE ratio of 18.55, a PEG ratio of 2.21 and a beta of 1.07. United Technologies Corporation has a 12 month low of $106.85 and a 12 month high of $124.79.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were issued a $0.70 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.27%. United Technologies’s dividend payout ratio (DPR) is presently 43.41%.
In other United Technologies news, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The disclosure for this sale can be found here. Insiders sold 10,625 shares of company stock valued at $1,284,696 over the last 90 days. 0.16% of the stock is currently owned by company insiders.
A number of brokerages have recently issued reports on UTX. Cowen reaffirmed a “hold” rating and set a $120.00 price objective 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, December 5th. Stifel Nicolaus raised their price objective on 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 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. United Technologies presently has a consensus rating of “Hold” and a consensus target price of $125.63.
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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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