Neuberger Berman Group LLC bought a new stake in 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. The fund bought 2,444,120 shares of the company’s stock, valued at approximately $150,566,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kessler Investment Group LLC acquired a new position in shares of Raytheon Technologies in the second quarter valued at approximately $26,000. Financial Management Professionals Inc. purchased a new position in shares of Raytheon Technologies in the 2nd quarter worth $27,000. Harvest Group Wealth Management LLC raised its position in shares of Raytheon Technologies by 77.6% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock worth $28,000 after buying an additional 201 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Raytheon Technologies in the 2nd quarter worth $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Raytheon Technologies in the 2nd quarter worth $31,000. 74.47% of the stock is currently owned by institutional investors.

Shares of RTX traded up $1.51 during trading hours on Wednesday, hitting $62.95. 335,858 shares of the company were exchanged, compared to its average volume of 11,629,960. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.91. The company has a market capitalization of $93.86 billion, a PE ratio of 7.44, a PEG ratio of 1.63 and a beta of 1.22. The firm has a fifty day simple moving average of $60.97 and a 200-day simple moving average of $76.40. Raytheon Technologies Corp has a one year low of $40.72 and a one year high of $93.47.

Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.30. The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. Sell-side analysts expect that Raytheon Technologies Corp will post 3.1 EPS for the current year.

Several research firms recently commented on RTX. ValuEngine raised Raytheon Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Citigroup cut their price objective on shares of Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. Credit Suisse Group reiterated a “buy” rating and set a $81.00 target price on shares of Raytheon Technologies in a research note on Wednesday, July 29th. Susquehanna Bancshares lifted their price target on shares of Raytheon Technologies from $66.00 to $74.00 in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Raytheon Technologies from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Raytheon Technologies presently has an average rating of “Buy” and an average price target of $94.17.

About Raytheon Technologies

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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