Rockbridge Investment Management LCC purchased a new position in Raytheon Technologies Corp (NYSE:RTX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,425 shares of the company’s stock, valued at approximately $88,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Kessler Investment Group LLC purchased a new position in Raytheon Technologies in the second quarter worth $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Raytheon Technologies in the 2nd quarter worth $27,000. Harvest Group Wealth Management LLC grew its stake in Raytheon Technologies by 77.6% during the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock worth $28,000 after buying an additional 201 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Raytheon Technologies during the 2nd quarter valued at about $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Raytheon Technologies in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.
RTX traded up $1.60 during trading on Wednesday, hitting $63.04. The company’s stock had a trading volume of 147,762 shares, compared to its average volume of 11,629,960. The firm has a market capitalization 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 twelve month low of $40.72 and a twelve month high of $93.47. The business’s fifty day simple moving average is $60.97 and its 200 day simple moving average is $76.40. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45.
Raytheon Technologies (NYSE:RTX) last announced its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 was up 24.1% on a year-over-year basis. As a group, equities research analysts forecast that Raytheon Technologies Corp will post 3.1 earnings per share for the current fiscal year.
Several research firms have recently issued reports on RTX. Zacks Investment Research downgraded shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, June 10th. Cowen lifted their target price on Raytheon Technologies from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Argus cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, July 29th. Susquehanna Bancshares increased their price target on Raytheon Technologies from $66.00 to $74.00 in a research report on Friday, July 17th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $81.00 price objective on shares of Raytheon Technologies in a report on Wednesday, July 29th. 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’s stock. The stock currently has an average rating of “Buy” and an average target price of $94.17.
Raytheon Technologies Company 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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