Private Trust Co Na Lowers stake in United Technologies Corporation (UTX)

United Technologies Corporation (UTX) : Private Trust Co Na reduced its stake in United Technologies Corporation by 6.27% during the most recent quarter end. The investment management company now holds a total of 19,059 shares of United Technologies Corporation which is valued at $1,903,041 after selling 1,274 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.United Technologies Corporation makes up approximately 0.47% of Private Trust Co Na’s portfolio.

Other Hedge Funds, Including , Highland Capital Management boosted its stake in UTX in the latest quarter, The investment management firm added 270 additional shares and now holds a total of 93,184 shares of United Technologies Corporation which is valued at $9,304,422. United Technologies Corporation makes up approx 0.80% of Highland Capital Management’s portfolio.Hexavest reduced its stake in UTX by selling 21,535 shares or 8.67% in the most recent quarter. The Hedge Fund company now holds 226,872 shares of UTX which is valued at $22,408,147. United Technologies Corporation makes up approx 0.41% of Hexavest’s portfolio.Genesee Valley Trust Co reduced its stake in UTX by selling 1,780 shares or 16.37% in the most recent quarter. The Hedge Fund company now holds 9,093 shares of UTX which is valued at $898,116. United Technologies Corporation makes up approx 0.58% of Genesee Valley Trust Co’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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