Rockbridge Investment Management LCC acquired a new stake in Raytheon Technologies Corp (NYSE:RTX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,425 shares of the company’s stock, valued at approximately $88,000.
Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Raytheon Technologies during the second quarter worth $7,929,593,000. Capital Research Global Investors acquired a new position in shares of Raytheon Technologies during the 1st quarter worth about $1,786,892,000. Bank of New York Mellon Corp acquired a new position in shares of Raytheon Technologies during the 2nd quarter worth about $975,282,000. Capital International Investors purchased a new position in shares of Raytheon Technologies in the 1st quarter valued at about $1,091,668,000. Finally, Davis Selected Advisers acquired a new stake in shares of Raytheon Technologies during the 2nd quarter worth about $694,253,000. 74.47% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on RTX shares. Vertical Research upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $77.00 in a research note on Friday, July 10th. JPMorgan Chase & Co. increased their target price on shares of Raytheon Technologies from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Zacks Investment Research cut shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. Argus lowered Raytheon Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Morgan Stanley initiated coverage on Raytheon Technologies in a research report on Tuesday, September 8th. They set an “overweight” rating and a $89.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $94.17.
NYSE:RTX traded up $1.60 during midday trading on Wednesday, reaching $63.04. The stock had a trading volume of 147,762 shares, compared to its average volume of 11,629,960. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. The stock has a market cap of $93.86 billion, a P/E ratio of 7.44, a P/E/G ratio of 1.63 and a beta of 1.22. The firm has a fifty day simple moving average of $60.97 and a two-hundred day simple moving average of $76.40. Raytheon Technologies Corp has a 12-month low of $40.72 and a 12-month high of $93.47.
Raytheon Technologies (NYSE:RTX) last issued its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.30. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.39 billion. Raytheon Technologies’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, sell-side analysts anticipate that Raytheon Technologies Corp will post 3.1 earnings per share for the current fiscal year.
Raytheon Technologies Profile
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
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