Chesapeake Asset Management Lowers stake in United Technologies Corporation (UTX)

United Technologies Corporation (UTX) : Chesapeake Asset Management reduced its stake in United Technologies Corporation by 7.17% during the most recent quarter end. The investment management company now holds a total of 33,363 shares of United Technologies Corporation which is valued at $3,642,572 after selling 2,575 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.United Technologies Corporation makes up approximately 2.86% of Chesapeake Asset Management’s portfolio.

Other Hedge Funds, Including , Leisure Capital Management reduced its stake in UTX by selling 187 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 15,561 shares of UTX which is valued at $1,677,320. United Technologies Corporation makes up approx 1.80% of Leisure Capital Management’s portfolio.Davidson Garrard Inc boosted its stake in UTX in the latest quarter, The investment management firm added 164 additional shares and now holds a total of 33,104 shares of United Technologies Corporation which is valued at $3,566,625. United Technologies Corporation makes up approx 0.85% of Davidson Garrard Inc’s portfolio.Bb&t Securities boosted its stake in UTX in the latest quarter, The investment management firm added 22,466 additional shares and now holds a total of 296,802 shares of United Technologies Corporation which is valued at $31,977,447. United Technologies Corporation makes up approx 0.48% of Bb&t Securities’s portfolio.Appleton Partners Incma reduced its stake in UTX by selling 233 shares or 2.03% in the most recent quarter. The Hedge Fund company now holds 11,226 shares of UTX which is valued at $1,193,212. United Technologies Corporation makes up approx 0.24% of Appleton Partners Incma’s portfolio.Tiaa Cref Trust Co Fsbmo reduced its stake in UTX by selling 11,852 shares or 5.12% in the most recent quarter. The Hedge Fund company now holds 219,471 shares of UTX which is valued at $23,072,986. United Technologies Corporation makes up approx 0.21% of Tiaa Cref Trust Co Fsbmo’s portfolio.

United Technologies Corporation opened for trading at $108.548 and hit $109.01 on the upside on Wednesday, eventually ending the session at $108.94, with a gain of 0.41% or 0.44 points. The heightened volatility saw the trading volume jump to 22,08,694 shares. Company has a market cap of $91,175 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.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *