Royal London Asset Management Ltd Lowers stake in United Technologies Corporation (UTX)

United Technologies Corporation (UTX) : Royal London Asset Management Ltd reduced its stake in United Technologies Corporation by 11.33% during the most recent quarter end. The investment management company now holds a total of 294,335 shares of United Technologies Corporation which is valued at $31,284,867 after selling 37,606 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.United Technologies Corporation makes up approximately 0.50% of Royal London Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Parkside Financial Bank Trust reduced its stake in UTX by selling 704 shares or 11.67% in the most recent quarter. The Hedge Fund company now holds 5,328 shares of UTX which is valued at $566,313. United Technologies Corporation makes up approx 0.27% of Parkside Financial Bank Trust’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in UTX by selling 6,549 shares or 16.78% in the most recent quarter. The Hedge Fund company now holds 32,479 shares of UTX which is valued at $3,497,664. United Technologies Corporation makes up approx 0.35% of Tokio Marine Asset Management Co Ltd’s portfolio.Grimes Company boosted its stake in UTX in the latest quarter, The investment management firm added 151 additional shares and now holds a total of 5,831 shares of United Technologies Corporation which is valued at $627,940. United Technologies Corporation makes up approx 0.08% of Grimes Company’s portfolio.

United Technologies Corporation opened for trading at $107.74 and hit $108.34 on the upside on Monday, eventually ending the session at $107.79, with a gain of 0.05% or 0.05 points. The heightened volatility saw the trading volume jump to 30,20,855 shares. Company has a market cap of $90,212 M.

On the company’s financial health, United Technologies Corporation reported $1.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.68. The company had revenue of $14874.00 million for the quarter, compared to analysts expectations of $14692.67 million. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS.

Investors should note that on Jun 8, 2016, United Technologies Corporation announced a cash dividend of $0.6600. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 10, 2016.

United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries across the world. The Company operates through five segments: Otis; UTC Climate Controls & Security; Pratt & Whitney; UTC Aerospace Systems and Sikorsky. Otis designs manufactures sells and installs a range of passenger and freight elevators for low- medium- and high-speed applications as well as a line of escalators and moving walkways. UTC Climate Controls & Security is a provider of heating ventilating air conditioning (HVAC) and refrigeration solutions. Pratt & Whitney segment supplies aircraft engines for the commercial military business jet and general aviation markets. UTC Aerospace Systems is a global provider of technologically advanced aerospace products and aftermarket service solutions. Its Sikorsky segment manufactures military and commercial helicopters and also provides aftermarket helicopter and aircraft parts and services.

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