Minot Wealth Management LLC boosted its holdings in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 25.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,325 shares of the company’s stock after purchasing an additional 7,664 shares during the quarter. Minot Wealth Management LLC’s holdings in Raytheon Technologies were worth $3,587,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Successful Portfolios LLC boosted its holdings in Raytheon Technologies by 1.9% in the first quarter. Successful Portfolios LLC now owns 5,075 shares of the company’s stock worth $503,000 after purchasing an additional 97 shares in the last quarter. Prosperity Consulting Group LLC raised its stake in shares of Raytheon Technologies by 0.9% in the 1st quarter. Prosperity Consulting Group LLC now owns 11,290 shares of the company’s stock valued at $1,118,000 after acquiring an additional 103 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Raytheon Technologies by 7.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,655 shares of the company’s stock worth $164,000 after purchasing an additional 109 shares during the last quarter. Naples Global Advisors LLC boosted its position in Raytheon Technologies by 0.3% during the first quarter. Naples Global Advisors LLC now owns 36,950 shares of the company’s stock worth $3,661,000 after purchasing an additional 111 shares during the period. Finally, NCM Capital Management LLC grew its holdings in Raytheon Technologies by 1.5% during the first quarter. NCM Capital Management LLC now owns 7,514 shares of the company’s stock valued at $744,000 after purchasing an additional 112 shares during the last quarter. 79.89% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Vertical Research decreased their price objective on shares of Raytheon Technologies to $120.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. StockNews.com upgraded Raytheon Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $114.10.
Raytheon Technologies Price Performance
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its earnings results on Tuesday, July 26th. The company reported $1.16 earnings per share (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 during the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Raytheon Technologies’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that Raytheon Technologies Co. will post 4.71 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.
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