Laffer Investments Lowers stake in United Technologies Corporation (UTX)

United Technologies Corporation (UTX) : Laffer Investments reduced its stake in United Technologies Corporation by 27.8% during the most recent quarter end. The investment management company now holds a total of 20,567 shares of United Technologies Corporation which is valued at $2,239,129 after selling 7,918 shares in United Technologies Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.United Technologies Corporation makes up approximately 0.70% of Laffer Investments’s portfolio.

Other Hedge Funds, Including , National Asset Management reduced its stake in UTX by selling 1,460 shares or 7.32% in the most recent quarter. The Hedge Fund company now holds 18,474 shares of UTX which is valued at $2,011,264. United Technologies Corporation makes up approx 0.39% of National Asset Management’s portfolio.Sheaff Brock Investment Advisors boosted its stake in UTX in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 2,156 shares of United Technologies Corporation which is valued at $232,287. United Technologies Corporation makes up approx 0.03% of Sheaff Brock Investment Advisors’s portfolio.

United Technologies Corporation opened for trading at $106.74 and hit $106.965 on the upside on Thursday, eventually ending the session at $106.72, with a gain of 0.27% or 0.29 points. The heightened volatility saw the trading volume jump to 32,31,547 shares. Company has a market cap of $89,317 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.

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