NN Investment Partners Holdings N.V. acquired a new position in shares of Raytheon Technologies Corp (NYSE:RTX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 948 shares of the company’s stock, valued at approximately $58,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Research Global Investors bought a new stake in Raytheon Technologies during the 1st quarter valued at $1,786,892,000. Capital International Investors bought a new stake in Raytheon Technologies during the 1st quarter valued at $1,091,668,000. New York State Teachers Retirement System bought a new stake in Raytheon Technologies during the 2nd quarter valued at $130,748,000. Envestnet Asset Management Inc. bought a new stake in Raytheon Technologies during the 2nd quarter valued at $100,841,000. Finally, Welch & Forbes LLC bought a new stake in Raytheon Technologies during the 2nd quarter valued at $71,034,000. 78.95% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the company. Credit Suisse Group reissued a “buy” rating and issued a $81.00 price objective on shares of Raytheon Technologies in a research report on Wednesday. Citigroup lowered their price target on Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, June 25th. Argus cut Raytheon Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America reaffirmed a “buy” rating and set a $95.00 price target on shares of Raytheon Technologies in a research report on Thursday, April 9th. Finally, TheStreet lowered Raytheon Technologies from a “b” rating to a “c” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $94.47.
RTX stock opened at $56.68 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. Raytheon Technologies Corp has a 12-month low of $40.72 and a 12-month high of $93.47. The stock has a market cap of $49.09 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 1.54 and a beta of 0.85. The business’s 50-day moving average is $62.31 and its 200 day moving average is $110.62.
Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) 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 company had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Raytheon Technologies’s revenue was up 24.1% on a year-over-year basis. As a group, equities analysts forecast that Raytheon Technologies Corp will post 3.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.35%. The ex-dividend date is Thursday, August 13th. Raytheon Technologies’s payout ratio is 23.00%.
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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