Why Are JetBlue Airways Corporation, American Airlines Group and United Technologies Declining Today?

Lastly, the analysts at RBC capital downgraded United Technologies Corporation (NYSE:UTX) to ‘Sector Perform’ from ‘Outperform’ and lowered their price target to $100 from $113, as the analysts think the stock is fairly valued at its current 14.2 times forward earnings multiple. The analysts don’t think there is much more organic growth upside outside of United Technologies’ defense and construction units, which make up just 40% of segment operating income. United Technologies can still provide upside, however, if management makes accretive acquisitions like the company’s Goodrich acquisition in 2011.

Our data shows hedge funds were bearish on United Technologies Corporation (NYSE:UTX) in the second quarter. A total of 57 funds reported stakes worth $2.94 billion (representing 3.00% of the float) in the latest round of 13F filings, down from 60 funds and $3.21 billion a quarter earlier. Fisher Asset Management owns 8.21 million shares while Phill Gross and Robert Atchinson‘s Adage Capital Management owns 4.25 million shares.

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