United Technologies Corporation (UTX) Sinks On Cut Full-Year Outlook

What does the smart money think about United Technologies Corporation (NYSE:UTX)?

Of the funds tracked by Insider Monkey, Fisher Asset Management, helmed by Ken Fisher, holds the number one position in United Technologies Corporation (NYSE:UTX), owning 8.07 million shares for a $945.5 million position in the stock, comprising 1.9% of its 13F portfolio. Sitting in the second spot is Citadel Investment Group, led by Ken Griffin, holding a $333.8 million position in 3.39 million shares; 0.4% of its 13F portfolio is allocated to the company. Noteworthy peers that hold long positions consist of Phill Gross and Robert Atchinson’s Adage Capital Management, Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC, and Israel Englander’s Millennium Management.

As United Technologies Corporation (NYSE:UTX) witnessed bearish sentiment from the aggregate hedge fund industry, there lies a certain “tier” of fund managers that decided to sell off their full holdings in the first quarter. It’s worth mentioning that Daniel S. Och‘s OZ Management cut the largest position of the 700 funds monitored by Insider Monkey, selling a position of call options underlying 2.39 million shares, worth an estimated $274.78 million. Zach Schreiber’s fund, Point State Capital, also cut its stock, selling 1.77 million shares worth about $203.16 million, a position it bought in the preceding quarter.

United Technologies Corporation (NYSE:UTX) does not look like a good stock to buy now as setbacks abound and the world’s leading money managers are putting their money elsewhere.

Disclosure: None