Brinker Capital Investments LLC lowered its stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 17.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,638 shares of the company’s stock after selling 30,562 shares during the period. Brinker Capital Investments LLC’s holdings in Raytheon Technologies were worth $14,131,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Resurgent Financial Advisors LLC purchased a new stake in Raytheon Technologies during the first quarter worth $221,000. Wetherby Asset Management Inc. increased its position in shares of Raytheon Technologies by 17.4% during the first quarter. Wetherby Asset Management Inc. now owns 35,737 shares of the company’s stock worth $3,540,000 after purchasing an additional 5,308 shares in the last quarter. Vident Investment Advisory LLC increased its position in shares of Raytheon Technologies by 8.9% during the first quarter. Vident Investment Advisory LLC now owns 6,139 shares of the company’s stock worth $610,000 after purchasing an additional 503 shares in the last quarter. Horizon Investments LLC increased its position in shares of Raytheon Technologies by 76.4% during the first quarter. Horizon Investments LLC now owns 32,812 shares of the company’s stock worth $3,251,000 after purchasing an additional 14,211 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Raytheon Technologies during the first quarter worth $6,229,000. Hedge funds and other institutional investors own 79.89% of the company’s stock.
Raytheon Technologies Price Performance
NYSE RTX opened at $88.04 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.10 and a quick ratio of 0.83. The stock’s fifty day moving average price is $92.44 and its 200 day moving average price is $95.44. Raytheon Technologies Co. has a 1 year low of $79.00 and a 1 year high of $106.02. The company has a market cap of $129.99 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.80 and a beta of 1.04.
Raytheon Technologies (NYSE:RTX – Get Rating) last released its earnings results on Tuesday, July 26th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. Raytheon Technologies had a return on equity of 9.48% and a net margin of 6.84%. The firm had revenue of $16.31 billion for the quarter, compared to the consensus estimate of $16.61 billion. During the same period in the prior year, the firm earned $1.03 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Raytheon Technologies Co. will post 4.68 earnings per share for the current year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on RTX shares. Vertical Research reduced their price target on Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. StockNews.com raised Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Raytheon Technologies has a consensus rating of “Moderate Buy” and an average price target of $114.10.
About Raytheon Technologies
Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the 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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