United Technologies Co. (UTX) Holdings Boosted by Tompkins Financial Corp

Tompkins Financial Corp raised its stake in shares of United Technologies Co. (NYSE:UTX) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,045 shares of the conglomerate’s stock after purchasing an additional 100 shares during the period. Tompkins Financial Corp’s holdings in United Technologies were worth $426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of UTX. Oregon Public Employees Retirement Fund lifted its holdings in United Technologies by 11,458.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,426,355 shares of the conglomerate’s stock valued at $89,000 after purchasing an additional 9,344,798 shares in the last quarter. Norges Bank purchased a new position in United Technologies during the fourth quarter valued at $824,350,000. BlackRock Inc. lifted its holdings in United Technologies by 13.3% during the fourth quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock valued at $5,753,662,000 after purchasing an additional 6,347,718 shares in the last quarter. Geode Capital Management LLC lifted its holdings in United Technologies by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after purchasing an additional 1,293,517 shares in the last quarter. Finally, Findlay Park Partners LLP purchased a new position in United Technologies during the fourth quarter valued at $119,790,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Robert J. Bailey sold 1,418 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $126.20, for a total transaction of $178,951.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Kelly Ortberg sold 16,587 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $126.59, for a total transaction of $2,099,748.33. Following the sale, the chief executive officer now owns 70,211 shares of the company’s stock, valued at $8,888,010.49. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

UTX has been the topic of several recent analyst reports. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Bank of America reaffirmed a “buy” rating and set a $185.00 price objective on shares of United Technologies in a report on Thursday, January 24th. Morgan Stanley increased their price objective on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday. Goldman Sachs Group raised shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 price objective on the stock in a report on Friday, February 1st. Finally, Barclays increased their price objective on shares of United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $148.07.

Shares of NYSE UTX traded up $0.68 during mid-day trading on Friday, reaching $131.13. The company’s stock had a trading volume of 282,998 shares, compared to its average volume of 3,878,515. The stock has a market capitalization of $116.76 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.23. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.40.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.20. The business had revenue of $18.37 billion during the quarter, compared to analysts’ expectations of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 earnings per share. As a group, equities research analysts expect that United Technologies Co. will post 7.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, May 16th. United Technologies’s dividend payout ratio (DPR) is 38.63%.

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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.

Read More: SEC Filing

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

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