Amalgamated Bank Grows Stake in United Technologies Co. (UTX)

Amalgamated Bank grew its position in United Technologies Co. (NYSE:UTX) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 94,037 shares of the conglomerate’s stock after buying an additional 8,363 shares during the period. Amalgamated Bank’s holdings in United Technologies were worth $11,996,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of United Technologies by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of United Technologies by 3,794.3% in the 4th quarter. Mackenzie Financial Corp now owns 1,617,082 shares of the conglomerate’s stock worth $206,291,000 after purchasing an additional 1,575,558 shares during the last quarter. Stifel Financial Corp boosted its position in shares of United Technologies by 14,827.8% in the 3rd quarter. Stifel Financial Corp now owns 1,079,875 shares of the conglomerate’s stock worth $125,442,000 after purchasing an additional 1,072,641 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of United Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of United Technologies by 1.8% in the 4th quarter. BlackRock Inc. now owns 46,850,302 shares of the conglomerate’s stock worth $5,976,695,000 after purchasing an additional 822,595 shares during the last quarter. 81.89% of the stock is owned by institutional investors.

Several research analysts have weighed in on UTX shares. Royal Bank of Canada upgraded United Technologies from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Barclays lifted their target price on United Technologies from $157.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Sanford C. Bernstein reiterated a “positive” rating and set a $153.00 target price (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Finally, UBS set a $155.00 target price on United Technologies and gave the stock a “buy” rating in a report on Thursday, March 15th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. United Technologies has an average rating of “Buy” and an average target price of $139.07.



In other news, VP Robert J. Bailey sold 2,032 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $134.95, for a total value of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Shares of United Technologies stock opened at $123.25 on Friday. The stock has a market capitalization of $98,340.74, a PE ratio of 18.53, a PEG ratio of 1.86 and a beta of 1.08. United Technologies Co. has a one year low of $109.10 and a one year high of $139.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 earnings per share. analysts predict that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.

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United Technologies 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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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