Vanguard Group Inc. Makes New $7.93 Billion Investment in Raytheon Technologies Corp (NYSE:RTX)

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Vanguard Group Inc. acquired a new stake in shares of Raytheon Technologies Corp (NYSE:RTX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 128,685,385 shares of the company’s stock, valued at approximately $7,929,593,000. Vanguard Group Inc. owned 8.42% of Raytheon Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors acquired a new position in shares of Raytheon Technologies in the 1st quarter valued at $1,786,892,000. Bank of New York Mellon Corp bought a new stake in Raytheon Technologies in the second quarter valued at about $975,282,000. Capital International Investors bought a new position in Raytheon Technologies during the first quarter worth about $1,091,668,000. Davis Selected Advisers bought a new position in Raytheon Technologies during the second quarter worth about $694,253,000. Finally, Macquarie Group Ltd. acquired a new stake in Raytheon Technologies during the second quarter valued at approximately $640,167,000. Institutional investors and hedge funds own 74.47% of the company’s stock.

Shares of NYSE RTX traded up $0.31 during midday trading on Friday, hitting $61.17. The stock had a trading volume of 8,515,600 shares, compared to its average volume of 8,492,344. Raytheon Technologies Corp has a fifty-two week low of $40.72 and a fifty-two week high of $93.47. The firm has a market cap of $93.45 billion, a P/E ratio of 7.41, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. 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’s 50-day simple moving average is $61.36 and its 200 day simple moving average is $83.54.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.475 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.90 dividend on an annualized basis and a yield of 3.11%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 23.00%.

Several research firms recently commented on RTX. Zacks Investment Research downgraded Raytheon Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. Royal Bank of Canada reduced their target price on shares of Raytheon Technologies from $69.00 to $66.00 in a research note on Friday, July 17th. Cowen increased their target price on shares of Raytheon Technologies from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Vertical Research upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $52.00 to $77.00 in a research report on Friday, July 10th. Finally, Jefferies Financial Group decreased their price objective on shares of Raytheon Technologies from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $94.47.

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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