Confluence Investment Management LLC Has $61.67 Million Position in Raytheon Technologies Co. (NYSE:RTX)

Confluence Investment Management LLC grew its position in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 641,643 shares of the company’s stock after buying an additional 1,516 shares during the quarter. Confluence Investment Management LLC’s holdings in Raytheon Technologies were worth $61,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RTX. Renaissance Technologies LLC acquired a new position in Raytheon Technologies during the 4th quarter worth approximately $24,497,000. O Shaughnessy Asset Management LLC increased its position in Raytheon Technologies by 1.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 30,555 shares of the company’s stock worth $2,630,000 after purchasing an additional 376 shares in the last quarter. True North Advisors LLC acquired a new position in Raytheon Technologies during the 4th quarter worth approximately $927,000. KRS Capital Management LLC acquired a new position in Raytheon Technologies during the 4th quarter worth approximately $263,000. Finally, Schroder Investment Management Group increased its position in Raytheon Technologies by 14.2% during the 4th quarter. Schroder Investment Management Group now owns 148,399 shares of the company’s stock worth $12,771,000 after purchasing an additional 18,459 shares in the last quarter. 79.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research reports. StockNews.com raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Vertical Research reduced their target price on shares of Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.10.

Raytheon Technologies Trading Down 0.5 %

NYSE:RTX opened at $85.20 on Monday. The firm’s fifty day moving average is $91.56 and its 200-day moving average is $94.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 1.10. Raytheon Technologies Co. has a 52 week low of $79.00 and a 52 week high of $106.02. The firm has a market cap of $125.80 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.73 and a beta of 1.04.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. Raytheon Technologies had a net margin of 6.84% and a return on equity of 9.48%. The company had revenue of $16.31 billion for the quarter, compared to analyst estimates of $16.61 billion. During the same period in the prior year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts expect that Raytheon Technologies Co. will post 4.71 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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