Nuveen Asset Management LLC Invests $893.87 Million in Raytheon Technologies Corp (NYSE:RTX)

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Nuveen Asset Management LLC purchased a new position in shares of Raytheon Technologies Corp (NYSE:RTX) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 14,506,135 shares of the company’s stock, valued at approximately $893,868,000. Nuveen Asset Management LLC owned approximately 0.95% of Raytheon Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Raytheon Technologies during the 2nd quarter worth about $1,526,000. Aurora Investment Counsel bought a new position in shares of Raytheon Technologies in the 2nd quarter valued at approximately $680,000. Oak Grove Capital LLC bought a new position in shares of Raytheon Technologies in the 2nd quarter valued at approximately $1,993,000. Stephens Inc. AR bought a new position in shares of Raytheon Technologies in the 2nd quarter valued at approximately $13,143,000. Finally, Stephens Investment Management Group LLC bought a new position in shares of Raytheon Technologies in the 2nd quarter valued at approximately $48,000. 74.47% of the stock is owned by institutional investors.

Shares of NYSE:RTX traded down $0.93 during trading on Tuesday, hitting $61.04. 202,603 shares of the stock were exchanged, compared to its average volume of 11,655,774. Raytheon Technologies Corp has a 1-year low of $40.72 and a 1-year high of $93.47. The company has a market capitalization of $94.67 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. The company’s fifty day simple moving average is $60.98 and its 200-day simple moving average is $77.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 1.20.

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

RTX has been the topic of a number of recent analyst reports. Argus downgraded Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Citigroup cut their price objective on Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. Royal Bank of Canada cut their price objective on Raytheon Technologies from $69.00 to $66.00 in a research note on Friday, July 17th. Cowen raised their target price on Raytheon Technologies from $65.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Finally, ValuEngine raised Raytheon Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $94.17.

Raytheon Technologies 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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