Stock Yards Bank Trust Co Lowers stake in United Technologies Corporation (UTX)

United Technologies Corporation (UTX) : Stock Yards Bank Trust Co reduced its stake in United Technologies Corporation by 8.08% during the most recent quarter end. The investment management company now holds a total of 13,617 shares of United Technologies Corporation which is valued at $1,363,879 after selling 1,197 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.United Technologies Corporation makes up approximately 0.19% of Stock Yards Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Duff Phelps Investment Management Co reduced its stake in UTX by selling 480 shares or 4.64% in the most recent quarter. The Hedge Fund company now holds 9,875 shares of UTX which is valued at $989,080. United Technologies Corporation makes up approx 0.01% of Duff Phelps Investment Management Co’s portfolio.Raymond James Trust N.a. boosted its stake in UTX in the latest quarter, The investment management firm added 5,351 additional shares and now holds a total of 60,240 shares of United Technologies Corporation which is valued at $6,022,795. United Technologies Corporation makes up approx 0.52% of Raymond James Trust N.a.’s portfolio. Simplex Trading added UTX to its portfolio by purchasing 14,501 company shares during the most recent quarter which is valued at $1,458,511. United Technologies Corporation makes up approx 0.19% of Simplex Trading’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.

United Technologies Corporation opened for trading at $100.42 and hit $100.79 on the upside on Friday, eventually ending the session at $100.16, with a gain of 0.31% or 0.31 points. The heightened volatility saw the trading volume jump to 31,72,007 shares. Company has a market cap of $83,827 M.

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.

Investors should note that on Oct 12, 2016, United Technologies Corporation announced a cash dividend of $0.6600. The company’s management has announced Nov 16, 2016 as the ex-dividend date and fixed the record date on Nov 18, 2016. The payable date has been fixed on Dec 10, 2016.

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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