Meyer Handelman Co. Cuts Stock Holdings in Raytheon Technologies Co. (NYSE:RTX)

Meyer Handelman Co. reduced its position in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,428 shares of the company’s stock after selling 1,020 shares during the period. Meyer Handelman Co.’s holdings in Raytheon Technologies were worth $21,090,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. increased its stake in Raytheon Technologies by 135.5% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Nauset Wealth Management. LLC purchased a new stake in shares of Raytheon Technologies in the first quarter valued at approximately $30,000. Steward Financial Group LLC grew its position in shares of Raytheon Technologies by 760.4% in the first quarter. Steward Financial Group LLC now owns 413 shares of the company’s stock valued at $40,000 after purchasing an additional 365 shares in the last quarter. Rational Advisors LLC grew its position in shares of Raytheon Technologies by 56.5% in the first quarter. Rational Advisors LLC now owns 435 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares in the last quarter. Finally, Roble Belko & Company Inc grew its position in shares of Raytheon Technologies by 111.5% in the first quarter. Roble Belko & Company Inc now owns 442 shares of the company’s stock valued at $44,000 after purchasing an additional 233 shares in the last quarter. 79.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Vertical Research dropped their price target on Raytheon Technologies to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. StockNews.com upgraded 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 given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.10.

Raytheon Technologies Trading Down 2.6 %

NYSE:RTX traded down $2.14 during trading hours on Friday, reaching $81.31. 89,064 shares of the stock were exchanged, compared to its average volume of 4,894,739. The company has a quick ratio of 0.83, a current ratio of 1.10 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $90.89 and a two-hundred day moving average of $94.56. Raytheon Technologies Co. has a twelve month low of $79.00 and a twelve month high of $106.02. The company has a market capitalization of $120.06 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.72 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, 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 company had revenue of $16.31 billion for the quarter, compared to analysts’ expectations of $16.61 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Raytheon Technologies Co. will post 4.71 EPS for the current year.

Raytheon Technologies Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Technologies Co. (NYSE:RTXGet Rating).

Institutional Ownership by Quarter for Raytheon Technologies (NYSE:RTX)

Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.