American International Group Inc. Has $47.93 Million Holdings in United Technologies Co. (UTX)

American International Group Inc. raised its stake in United Technologies Co. (NYSE:UTX) by 0.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 380,935 shares of the conglomerate’s stock after purchasing an additional 461 shares during the period. American International Group Inc.’s holdings in United Technologies were worth $47,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of UTX. Hyman Charles D grew its stake in shares of United Technologies by 4.4% during the first quarter. Hyman Charles D now owns 137,307 shares of the conglomerate’s stock worth $17,276,000 after acquiring an additional 5,800 shares during the last quarter. Associated Banc Corp grew its stake in shares of United Technologies by 0.9% during the first quarter. Associated Banc Corp now owns 63,693 shares of the conglomerate’s stock worth $8,014,000 after acquiring an additional 570 shares during the last quarter. ETRADE Capital Management LLC grew its stake in shares of United Technologies by 56.4% during the first quarter. ETRADE Capital Management LLC now owns 7,914 shares of the conglomerate’s stock worth $996,000 after acquiring an additional 2,853 shares during the last quarter. Keeler Thomas Management LLC grew its stake in shares of United Technologies by 5.8% during the first quarter. Keeler Thomas Management LLC now owns 7,895 shares of the conglomerate’s stock worth $993,000 after acquiring an additional 435 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of United Technologies by 4.6% during the first quarter. Synovus Financial Corp now owns 114,662 shares of the conglomerate’s stock worth $14,422,000 after acquiring an additional 5,041 shares during the last quarter. Institutional investors own 81.45% of the company’s stock.

In other United Technologies news, VP Robert J. Bailey sold 419 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $133.73, for a total value of $56,032.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert J. Mcdonough sold 10,770 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $119.09, for a total value of $1,282,599.30. Following the completion of the transaction, the insider now directly owns 40,612 shares of the company’s stock, valued at $4,836,483.08. The disclosure for this sale can be found here. Insiders sold 19,778 shares of company stock valued at $2,425,001 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered United Technologies from a “hold” rating to a “sell” rating in a research note on Friday, April 13th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $146.00 target price (up previously from $124.00) on shares of United Technologies in a report on Thursday, January 25th. Cowen reaffirmed a “hold” rating and set a $141.00 target price on shares of United Technologies in a report on Thursday, January 25th. Finally, UBS started coverage on United Technologies in a report on Tuesday, January 23rd. They set a “buy” rating and a $158.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. United Technologies presently has a consensus rating of “Buy” and an average price target of $138.21.

Shares of United Technologies opened at $124.61 on Friday, MarketBeat.com reports. United Technologies Co. has a 12-month low of $124.13 and a 12-month high of $124.87. The company has a market capitalization of $99.65 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.92 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.32 and a quick ratio of 0.96.

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

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Friday, May 18th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Thursday, May 17th. United Technologies’s payout ratio is presently 42.11%.

About United Technologies

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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