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

United Technologies Corporation (UTX) : Founders Capital Management reduced its stake in United Technologies Corporation by 1.63% during the most recent quarter end. The investment management company now holds a total of 68,458 shares of United Technologies Corporation which is valued at $6,844,431 after selling 1,135 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.United Technologies Corporation makes up approximately 3.85% of Founders Capital Management’s portfolio.

Other Hedge Funds, Including , Dynamic Advisors Solutions boosted its stake in UTX in the latest quarter, The investment management firm added 9,957 additional shares and now holds a total of 17,424 shares of United Technologies Corporation which is valued at $1,742,052. United Technologies Corporation makes up approx 0.67% of Dynamic Advisors Solutions’s portfolio.First Mercantile Trust Co reduced its stake in UTX by selling 100 shares or 2.83% in the most recent quarter. The Hedge Fund company now holds 3,435 shares of UTX which is valued at $345,492. United Technologies Corporation makes up approx 0.05% of First Mercantile Trust Co’s portfolio.Cardinal Capital Management boosted its stake in UTX in the latest quarter, The investment management firm added 1,746 additional shares and now holds a total of 107,246 shares of United Technologies Corporation which is valued at $10,965,904. United Technologies Corporation makes up approx 1.24% of Cardinal Capital Management’s portfolio.Cullinan Associates Inc boosted its stake in UTX in the latest quarter, The investment management firm added 1,265 additional shares and now holds a total of 53,282 shares of United Technologies Corporation which is valued at $5,448,085. United Technologies Corporation makes up approx 0.47% of Cullinan Associates Inc’s portfolio.

United Technologies Corporation closed down -1.21 points or -1.21% at $98.77 with 43,14,836 shares getting traded on Tuesday. Post opening the session at $99.55, the shares hit an intraday low of $98.46 and an intraday high of $99.87 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Many Wall Street Analysts have commented on United Technologies Corporation. United Technologies Corporation was Downgraded by Citigroup to ” Neutral” on Oct 10, 2016. Shares were Reiterated by UBS on Sep 19, 2016 to “Buy” and Lowered the Price Target to $ 115 from a previous price target of $118 .

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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