Logan Capital Management Inc. Purchases 270 Shares of Raytheon Technologies Co. (NYSE:RTX)

Logan Capital Management Inc. boosted its position in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,163 shares of the company’s stock after acquiring an additional 270 shares during the quarter. Logan Capital Management Inc.’s holdings in Raytheon Technologies were worth $14,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Norges Bank bought a new stake in Raytheon Technologies during the fourth quarter worth $1,277,246,000. Capital Research Global Investors raised its position in Raytheon Technologies by 13.4% during the fourth quarter. Capital Research Global Investors now owns 59,603,906 shares of the company’s stock worth $5,129,511,000 after acquiring an additional 7,030,375 shares in the last quarter. Capital World Investors raised its position in Raytheon Technologies by 48.5% during the fourth quarter. Capital World Investors now owns 6,874,082 shares of the company’s stock worth $591,583,000 after acquiring an additional 2,244,470 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Raytheon Technologies by 1.9% in the first quarter. Vanguard Group Inc. now owns 120,699,958 shares of the company’s stock valued at $11,957,745,000 after purchasing an additional 2,236,112 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Raytheon Technologies by 33.1% in the fourth quarter. Alliancebernstein L.P. now owns 8,879,745 shares of the company’s stock valued at $764,191,000 after purchasing an additional 2,210,486 shares during the last quarter. 79.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Vertical Research decreased their price objective on shares of Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.10.

Raytheon Technologies Trading Up 1.7 %

RTX stock opened at $88.04 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 1.10. The company’s 50-day simple moving average is $92.44 and its 200 day simple moving average is $95.41. Raytheon Technologies Co. has a 52 week low of $79.00 and a 52 week high of $106.02. The company has a market capitalization of $129.99 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

Raytheon Technologies (NYSE:RTXGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. Raytheon Technologies had a net margin of 6.84% and a return on equity of 9.48%. The business 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 company posted $1.03 earnings per share. Raytheon Technologies’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Raytheon Technologies Co. will post 4.68 earnings per share for the current year.

Raytheon Technologies 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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