Renaissance Investment Group Lowers stake in United Technologies Corporation (UTX)

United Technologies Corporation (UTX) : Renaissance Investment Group reduced its stake in United Technologies Corporation by 37.19% during the most recent quarter end. The investment management company now holds a total of 7,775 shares of United Technologies Corporation which is valued at $777,267 after selling 4,604 shares in United Technologies Corporation according to a report filed by the company on Apr 1, 2016 with the SEC.United Technologies Corporation makes up approximately 0.39% of Renaissance Investment Group’s portfolio.

On the company’s financial health, United Technologies Corporation reported $1.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $1.52. The company had revenue of $14300.00 million for the quarter, compared to analysts expectations of $15257.16 million. The company’s revenue was down -4.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.67 EPS.

Many Wall Street Analysts have commented on United Technologies Corporation. Company shares were Downgraded by RBC Capital Mkts on Mar 1, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 109 from a previous price target of $100 .Shares were Reiterated by RBC Capital Mkts on Jan 28, 2016 to “Sector Perform” and Lowered the Price Target to $ 100 from a previous price target of $104 .Shares were Reiterated by Argus on Jan 28, 2016 to “Buy” and Lowered the Price Target to $ 105 from a previous price target of $125 .

United Technologies Corporation opened for trading at $101.58 and hit $102.93 on the upside on Monday, eventually ending the session at $102.14, with a gain of 0.81% or 0.82 points. The heightened volatility saw the trading volume jump to 45,83,468 shares. Company has a market cap of $85,433 M.

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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