Atlantic Union Bankshares Corp trimmed its holdings in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 98,531 shares of the company's stock after selling 595 shares during the period. Raytheon Technologies makes up about 1.0% of Atlantic Union Bankshares Corp's holdings, making the stock its 28th largest holding. Atlantic Union Bankshares Corp's holdings in Raytheon Technologies were worth $9,470,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its position in shares of Raytheon Technologies by 44.5% during the fourth quarter. Squarepoint Ops LLC now owns 42,514 shares of the company's stock worth $3,659,000 after buying an additional 13,101 shares during the period. Eudaimonia Advisors LLC purchased a new position in Raytheon Technologies in the fourth quarter valued at $206,000. Lombard Odier Asset Management Switzerland SA purchased a new position in Raytheon Technologies in the fourth quarter valued at $289,000. Golden State Wealth Management LLC boosted its holdings in Raytheon Technologies by 156.9% in the fourth quarter. Golden State Wealth Management LLC now owns 9,232 shares of the company's stock valued at $794,000 after purchasing an additional 5,638 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in Raytheon Technologies by 254.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,893,530 shares of the company's stock valued at $162,957,000 after buying an additional 1,358,960 shares in the last quarter. 79.89% of the stock is currently owned by hedge funds and other institutional investors.
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Raytheon Technologies Price Performance
RTX stock traded up $0.13 on Friday, reaching $82.47. The company had a trading volume of 95,250 shares, compared to its average volume of 5,380,465. Raytheon Technologies Co. has a 1 year low of $79.00 and a 1 year high of $106.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 1.10. The company's fifty day moving average is $89.80 and its 200 day moving average is $94.04. The company has a market cap of $121.38 billion, a P/E ratio of 27.54, a PEG ratio of 1.72 and a beta of 1.04.
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, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $16.31 billion during the quarter, compared to the consensus estimate of $16.61 billion. Raytheon Technologies had a return on equity of 9.48% and a net
margin of 6.84%. Raytheon Technologies's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. On average, research analysts forecast that Raytheon Technologies Co. will post 4.66 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on RTX. Vertical Research cut their target price on Raytheon Technologies to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. StockNews.com upgraded Raytheon Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, August 4th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.10.
About Raytheon Technologies
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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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