Markston International LLC bought a new position in Raytheon Technologies Corp (NYSE:RTX) in the second quarter, according to its most recent filing with the SEC. The firm bought 299,344 shares of the company’s stock, valued at approximately $18,445,000. Raytheon Technologies makes up 2.2% of Markston International LLC’s investment portfolio, making the stock its 11th largest position.

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

RTX traded down $0.35 on Friday, hitting $62.46. 352,254 shares of the company’s stock were exchanged, compared to its average volume of 11,583,890. Raytheon Technologies Corp has a fifty-two week low of $40.72 and a fifty-two week high of $93.47. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $60.98 and a 200-day moving average price of $75.26. The stock has a market cap of $95.95 billion, a price-to-earnings ratio of 7.60, a P/E/G ratio of 1.63 and a beta of 1.22.

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

RTX has been the subject of several recent research reports. Zacks Investment Research lowered shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, June 10th. Morgan Stanley initiated coverage on shares of Raytheon Technologies in a report on Tuesday, September 8th. They set an “overweight” rating and a $89.00 target price for the company. Susquehanna Bancshares lifted their target price on shares of Raytheon Technologies from $66.00 to $74.00 in a report on Friday, July 17th. Argus lowered shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Cowen boosted their price target on shares of Raytheon Technologies from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $94.17.

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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