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

United Technologies Corporation (UTX) : Cribstone Capital Management reduced its stake in United Technologies Corporation by 2.63% during the most recent quarter end. The investment management company now holds a total of 20,676 shares of United Technologies Corporation which is valued at $2,192,483 after selling 559 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.United Technologies Corporation makes up approximately 1.36% of Cribstone Capital Management’s portfolio.

Other Hedge Funds, Including , Palladium Partners boosted its stake in UTX in the latest quarter, The investment management firm added 644 additional shares and now holds a total of 46,289 shares of United Technologies Corporation which is valued at $4,908,486. United Technologies Corporation makes up approx 0.43% of Palladium Partners’s portfolio.Cape Cod Five Cents Savings Bank boosted its stake in UTX in the latest quarter, The investment management firm added 1,210 additional shares and now holds a total of 20,308 shares of United Technologies Corporation which is valued at $2,142,494. United Technologies Corporation makes up approx 0.38% of Cape Cod Five Cents Savings Bank’s portfolio.Perkins Coie Trust Co boosted its stake in UTX in the latest quarter, The investment management firm added 87 additional shares and now holds a total of 9,908 shares of United Technologies Corporation which is valued at $1,027,063. United Technologies Corporation makes up approx 0.67% of Perkins Coie Trust Co’s portfolio.Cohen Lawrence B boosted its stake in UTX in the latest quarter, The investment management firm added 2,245 additional shares and now holds a total of 8,290 shares of United Technologies Corporation which is valued at $859,341. United Technologies Corporation makes up approx 0.50% of Cohen Lawrence B’s portfolio.

United Technologies Corporation opened for trading at $105.69 and hit $106.28 on the upside on Wednesday, eventually ending the session at $106.04, with a gain of 0.40% or 0.42 points. The heightened volatility saw the trading volume jump to 29,87,486 shares. Company has a market cap of $88,741 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.

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.

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.

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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