Orion Portfolio Solutions LLC bought a new position in Raytheon Technologies Corp (NYSE:RTX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,622 shares of the company’s stock, valued at approximately $531,000.
A number of other institutional investors also recently bought and sold shares of RTX. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of Raytheon Technologies in the 2nd quarter valued at about $1,773,000. Hexavest Inc. acquired a new position in shares of Raytheon Technologies during the 2nd quarter worth approximately $2,709,000. Fifth Third Bancorp purchased a new position in shares of Raytheon Technologies during the 2nd quarter valued at approximately $46,883,000. Envestnet Asset Management Inc. acquired a new stake in Raytheon Technologies in the 2nd quarter valued at $100,841,000. Finally, Old Port Advisors purchased a new stake in Raytheon Technologies in the 2nd quarter worth $274,000. 74.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:RTX traded up $1.65 during midday trading on Wednesday, reaching $63.09. 146,313 shares of the company’s stock were exchanged, compared to its average volume of 11,629,960. The firm’s 50 day simple moving average is $60.97 and its two-hundred day simple moving average is $76.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.91. The stock has a market cap of $93.86 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 1.63 and a beta of 1.22. Raytheon Technologies Corp has a fifty-two week low of $40.72 and a fifty-two week high of $93.47.
Raytheon Technologies (NYSE:RTX) last posted its earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.30. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The company had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.39 billion. The business’s revenue was up 24.1% compared to the same quarter last year. Equities research analysts predict that Raytheon Technologies Corp will post 3.1 earnings per share for the current fiscal year.
RTX has been the topic of several recent analyst reports. Citigroup decreased their price objective on shares of Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. ValuEngine raised shares of Raytheon Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Vertical Research upgraded Raytheon Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $77.00 in a research note on Friday, July 10th. Zacks Investment Research downgraded Raytheon Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. Finally, Morgan Stanley assumed coverage on Raytheon Technologies in a research report on Tuesday, September 8th. They set an “overweight” rating and a $89.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $94.17.
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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