Invesco Ltd. Cuts Position in Raytheon Technologies Co. (NYSE:RTX)

Invesco Ltd. cut its holdings in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,074,005 shares of the company’s stock after selling 1,747,075 shares during the period. Raytheon Technologies makes up 0.4% of Invesco Ltd.’s portfolio, making the stock its 28th largest position. Invesco Ltd.’s holdings in Raytheon Technologies were worth $1,592,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Stuart Chaussee & Associates Inc. grew its holdings in Raytheon Technologies by 135.5% in the first quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Nauset Wealth Management. LLC bought a new position in Raytheon Technologies in the first quarter worth approximately $30,000. Steward Financial Group LLC raised its position in shares of Raytheon Technologies by 760.4% during the 1st quarter. Steward Financial Group LLC now owns 413 shares of the company’s stock valued at $40,000 after purchasing an additional 365 shares during the period. Rational Advisors LLC grew its stake in Raytheon Technologies by 56.5% during the first quarter. Rational Advisors LLC now owns 435 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares in the last quarter. Finally, Roble Belko & Company Inc grew its stake in shares of Raytheon Technologies by 111.5% in the 1st quarter. Roble Belko & Company Inc now owns 442 shares of the company’s stock worth $44,000 after buying an additional 233 shares in the last quarter. 79.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Vertical Research reduced their price objective on shares of Raytheon Technologies to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.10.

Raytheon Technologies Trading Up 1.7 %

NYSE:RTX opened at $88.04 on Friday. The stock has a fifty day simple moving average of $92.44 and a 200 day simple moving average of $95.41. The firm has a market capitalization of $129.99 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.10 and a debt-to-equity ratio of 0.43. Raytheon Technologies Co. has a 1-year low of $79.00 and a 1-year high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.16 earnings per share for the quarter, topping 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 company had revenue of $16.31 billion for the quarter, compared to analyst estimates of $16.61 billion. During the same quarter last year, the firm earned $1.03 EPS. Raytheon Technologies’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Raytheon Technologies Co. will post 4.68 earnings per share for the current year.

Raytheon Technologies Company Profile

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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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Institutional Ownership by Quarter for Raytheon Technologies (NYSE:RTX)

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