Geode Capital Management Lowers stake in United Technologies Corporation (UTX)

United Technologies Corporation (UTX) : Geode Capital Management reduced its stake in United Technologies Corporation by 4.41% during the most recent quarter end. The investment management company now holds a total of 6,634,448 shares of United Technologies Corporation which is valued at $665.2 Million after selling 305,975 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.United Technologies Corporation makes up approximately 0.37% of Geode Capital Management’s portfolio.

Other Hedge Funds, Including , Johnson Investment Counsel Inc boosted its stake in UTX in the latest quarter, The investment management firm added 306 additional shares and now holds a total of 27,489 shares of United Technologies Corporation which is valued at $2.8 Million. United Technologies Corporation makes up approx 0.10% of Johnson Investment Counsel Inc’s portfolio.South Dakota Investment Council boosted its stake in UTX in the latest quarter, The investment management firm added 5,520 additional shares and now holds a total of 111,730 shares of United Technologies Corporation which is valued at $11.3 Million. United Technologies Corporation makes up approx 0.25% of South Dakota Investment Council’s portfolio.Whittier Trust Co reduced its stake in UTX by selling 2,017 shares or 2.41% in the most recent quarter. The Hedge Fund company now holds 81,590 shares of UTX which is valued at $8.5 Million. United Technologies Corporation makes up approx 0.37% of Whittier Trust Co’s portfolio.

United Technologies Corporation opened for trading at $100.29 and hit $100.94 on the upside on Wednesday, eventually ending the session at $100.32, with a gain of 0.41% or 0.41 points. The heightened volatility saw the trading volume jump to 23,54,235 shares. Company has a market cap of $83,954 M.

On the company’s financial health, United Technologies Corporation reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $1.40. The company had revenue of $13357.00 million for the quarter, compared to analysts expectations of $13186.01 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS.

Many Wall Street Analysts have commented on United Technologies Corporation. Shares were Downgraded by RBC Capital Mkts on May 3, 2016 to ” Sector Perform” and Lowered the Price Target to $ 108 from a previous price target of $109 .United Technologies Corporation was Downgraded by Goldman to ” Neutral” on May 2, 2016. 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 .

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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