Neuberger Berman Group LLC Reduces Holdings in United Technologies Co. (UTX)

Neuberger Berman Group LLC lowered its stake in United Technologies Co. (NYSE:UTX) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 258,537 shares of the conglomerate’s stock after selling 29,697 shares during the period. Neuberger Berman Group LLC’s holdings in United Technologies were worth $32,541,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Almanack Investment Partners LLC. bought a new position in shares of United Technologies in the fourth quarter valued at $103,000. Wealthcare Advisory Partners LLC bought a new position in shares of United Technologies in the third quarter valued at $118,000. Taylor Hoffman Wealth Management bought a new position in shares of United Technologies in the fourth quarter valued at $140,000. Trustcore Financial Services LLC bought a new position in shares of United Technologies in the fourth quarter valued at $143,000. Finally, First Dallas Securities Inc. bought a new position in shares of United Technologies in the fourth quarter valued at $148,000. 82.20% of the stock is currently owned by institutional investors.

United Technologies stock opened at $127.58 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.32. United Technologies Co. has a 12 month low of $109.10 and a 12 month high of $139.24. The firm has a market cap of $102.45 billion, a PE ratio of 19.18, a P/E/G ratio of 1.98 and a beta of 1.09.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, beating the consensus estimate of $1.51 by $0.26. United Technologies had a net margin of 7.28% and a return on equity of 17.67%. The business had revenue of $15.24 billion for the quarter, compared to analysts’ expectations of $14.62 billion. During the same period in the previous year, the company posted $1.48 EPS. United Technologies’s revenue was up 10.3% on a year-over-year basis. equities analysts expect that United Technologies Co. will post 7.13 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Friday, May 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, May 17th. United Technologies’s dividend payout ratio is currently 42.11%.

In other news, VP Robert J. Bailey sold 2,032 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the transaction, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert J. Mcdonough sold 10,770 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $119.09, for a total transaction of $1,282,599.30. Following the transaction, the insider now owns 40,612 shares in the company, valued at $4,836,483.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,359 shares of company stock worth $2,368,968. 0.17% of the stock is currently owned by corporate insiders.

UTX has been the topic of several research reports. Cowen reaffirmed a “hold” rating and issued a $141.00 price target on shares of United Technologies in a report on Thursday, January 25th. Stifel Nicolaus reiterated a “hold” rating and set a $146.00 price objective (up from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Sanford C. Bernstein reiterated a “positive” rating and set a $153.00 price objective (up from $135.00) on shares of United Technologies in a research report on Tuesday, January 30th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Argus upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $137.64.

United Technologies Profile

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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

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