Altrinsic Global Advisors LLC decreased its stake in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 12.8% during the 1st quarter, Holdings Channel reports. The firm owned 338,190 shares of the company’s stock after selling 49,632 shares during the quarter. Raytheon Technologies makes up approximately 1.2% of Altrinsic Global Advisors LLC’s investment portfolio, making the stock its 18th largest position. Altrinsic Global Advisors LLC’s holdings in Raytheon Technologies were worth $33,505,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of RTX. Successful Portfolios LLC grew its position in Raytheon Technologies by 1.9% in the first quarter. Successful Portfolios LLC now owns 5,075 shares of the company’s stock valued at $503,000 after acquiring an additional 97 shares in the last quarter. Prosperity Consulting Group LLC lifted its stake in Raytheon Technologies by 0.9% in the first quarter. Prosperity Consulting Group LLC now owns 11,290 shares of the company’s stock valued at $1,118,000 after buying an additional 103 shares during the last quarter. Naples Global Advisors LLC lifted its stake in Raytheon Technologies by 0.3% in the first quarter. Naples Global Advisors LLC now owns 36,950 shares of the company’s stock valued at $3,661,000 after buying an additional 111 shares during the last quarter. NCM Capital Management LLC lifted its stake in Raytheon Technologies by 1.5% in the first quarter. NCM Capital Management LLC now owns 7,514 shares of the company’s stock valued at $744,000 after buying an additional 112 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in Raytheon Technologies by 1.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 8,339 shares of the company’s stock valued at $718,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 79.89% of the company’s stock.
Wall Street Analysts Forecast Growth
RTX has been the topic of a number of recent research reports. Vertical Research cut their target price on Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. StockNews.com raised Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Raytheon Technologies has an average rating of “Moderate Buy” and a consensus price target of $114.10.
Raytheon Technologies Trading Up 1.7 %
Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $16.61 billion. During the same quarter last year, the business posted $1.03 EPS. Raytheon Technologies’s revenue was up 2.7% on a year-over-year basis. Analysts expect that Raytheon Technologies Co. will post 4.68 earnings per share for the current year.
Raytheon Technologies Profile
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.
- Get a free copy of the StockNews.com research report on Raytheon Technologies (RTX)
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