Ninety One UK Ltd Takes $69 Million Position in Raytheon Technologies Corp (NYSE:RTX)

Ninety One UK Ltd purchased a new stake in shares of Raytheon Technologies Corp (NYSE:RTX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,119,827 shares of the company’s stock, valued at approximately $69,004,000. Ninety One UK Ltd owned 0.07% of Raytheon Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in shares of Raytheon Technologies during the second quarter valued at about $7,929,593,000. Capital Research Global Investors bought a new stake in shares of Raytheon Technologies during the first quarter valued at about $1,786,892,000. Bank of New York Mellon Corp bought a new stake in shares of Raytheon Technologies during the second quarter valued at about $975,282,000. Nuveen Asset Management LLC bought a new stake in shares of Raytheon Technologies during the second quarter valued at about $893,868,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Raytheon Technologies during the second quarter valued at about $826,942,000. 74.47% of the stock is owned by institutional investors.

A number of brokerages recently weighed in on RTX. Royal Bank of Canada dropped their price target on Raytheon Technologies from $69.00 to $66.00 in a research note on Friday, July 17th. Vertical Research upgraded Raytheon Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $52.00 to $77.00 in a report on Friday, July 10th. Susquehanna Bancshares upped their target price on Raytheon Technologies from $66.00 to $74.00 in a research note on Friday, July 17th. JPMorgan Chase & Co. upped their price target on Raytheon Technologies from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley initiated coverage on Raytheon Technologies in a research report on Tuesday, September 8th. They issued an “overweight” rating and a $89.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $94.17.

Shares of RTX traded up $1.48 during midday trading on Wednesday, hitting $62.92. The company’s stock had a trading volume of 7,069,200 shares, compared to its average volume of 11,614,605. Raytheon Technologies Corp has a one year low of $40.72 and a one year high of $93.47. The company’s fifty day simple moving average is $60.97 and its two-hundred day simple moving average is $76.40. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $93.86 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.30. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.39 billion. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. On average, research analysts predict that Raytheon Technologies Corp will post 3.1 earnings per share for the current year.

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

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