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

United Technologies Corporation (UTX) : Alta Capital Management reduced its stake in United Technologies Corporation by 1.44% during the most recent quarter end. The investment management company now holds a total of 287,937 shares of United Technologies Corporation which is valued at $28,750,509 after selling 4,220 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 1.82% of Alta Capital Management’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. Maple Securities Usa Inc sold out all of its stake in UTX during the most recent quarter. The investment firm sold 36,873 shares of UTX which is valued $3,686,563.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.Telemus Capital reduced its stake in UTX by selling 49 shares or 0.84% in the most recent quarter. The Hedge Fund company now holds 5,759 shares of UTX which is valued at $588,858. United Technologies Corporation makes up approx 0.07% of Telemus Capital’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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