Stack Financial Management Inc Lowers stake in United Technologies Corporation (UTX)

United Technologies Corporation (UTX) : Stack Financial Management Inc reduced its stake in United Technologies Corporation by 0.82% during the most recent quarter end. The investment management company now holds a total of 327,684 shares of United Technologies Corporation which is valued at $32.9 Million after selling 2,699 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.United Technologies Corporation makes up approximately 3.95% of Stack Financial Management Inc’s portfolio.

Other Hedge Funds, Including , Bessemer Group Inc reduced its stake in UTX by selling 420,957 shares or 81.49% in the most recent quarter. The Hedge Fund company now holds 95,603 shares of UTX which is valued at $9.6 Million. United Technologies Corporation makes up approx 0.06% of Bessemer Group Inc’s portfolio.Ray Gerald L Associates Ltd boosted its stake in UTX in the latest quarter, The investment management firm added 2,779 additional shares and now holds a total of 40,188 shares of United Technologies Corporation which is valued at $4.1 Million. United Technologies Corporation makes up approx 0.66% of Ray Gerald L Associates Ltd’s portfolio.Boston Financial Mangement Inc reduced its stake in UTX by selling 5,176 shares or 9.97% in the most recent quarter. The Hedge Fund company now holds 46,750 shares of UTX which is valued at $4.7 Million. United Technologies Corporation makes up approx 0.70% of Boston Financial Mangement Inc’s portfolio.

United Technologies Corporation opened for trading at $100.05 and hit $102.08 on the upside on Monday, eventually ending the session at $101.82, with a gain of 1.55% or 1.55 points. The heightened volatility saw the trading volume jump to 34,69,388 shares. Company has a market cap of $85,210 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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