Stock traders buy large volume of call options from Raytheon Technologies (NYSE: RTX)

Raytheon Technologies Co. (NYSE:RTX – Get Rating) was the target of unusually large options trades on Monday. Equity investors bought 15,009 call options on the company. This represents an increase of approximately 34% from the typical volume of 11,185 call options.

Analysts set new price targets

Several stock analysts have recently commented on the company. StockNews.com upgraded Raytheon Technologies from a “hold” rating to a “buy” rating in a Thursday, August 4 research report. Vertical Research cut its price target on Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a Wednesday, July 27 research report. One research analyst gave the stock a hold rating and six gave the company’s stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.10.

Institutional investors weigh in on Raytheon Technologies

Several hedge funds have recently changed their stock holdings. Norges Bank acquired a new stake in Raytheon Technologies in Q4 for a value of approximately $1,277,246,000. Capital Research Global Investors increased its holding in Raytheon Technologies shares by 13.8% during the 1st quarter. Capital Research Global Investors now owns 67,841,435 shares of the company valued at $6,721,059,000 after acquiring an additional 8,237,529 shares in the last quarter. Capital International Investors increased its stake in Raytheon Technologies shares by 12.1% in the 1st quarter. Capital International Investors now owns 41,171,497 shares of the company valued at $4,079,206,000 after acquiring an additional 4,436,749 shares in the last quarter. Capital World Investors increased its stake in Raytheon Technologies by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company valued at $904,564,000 after purchasing an additional 2,256,475 shares during the period. Finally, Vanguard Group Inc. increased its stake in Raytheon Technologies by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 120,699,958 shares of the company valued at $11,957,745,000 after purchasing an additional 2,236,112 shares during the period. 79.89% of the shares are held by hedge funds and other institutional investors.

Raytheon Technologies stock performance

Shares of NYSE:RTX traded down $0.14 on Monday, hitting $84.15. The company’s shares had a trading volume of 86,638 shares, compared to an average volume of 5,484,300. Raytheon Technologies has a 12-month low of $79.00 and a 12-month high of 106.02 $. The company has a market capitalization of $123.85 billion, a price-to-earnings ratio of 28.10, a growth price-to-earnings ratio of 1.73 and a beta of 0.75. The stock’s 50-day moving average is $88.78 and its two-hundred-day moving average is $93.36. The company has a debt ratio of 0.43, a quick ratio of 0.83 and a current ratio of 1.10.

Raytheon Technologies Inc (NYSE:RTX – Get Rating) last released its quarterly results on Tuesday, July 26. The company reported earnings per share (EPS) of $1.16 for the quarter, beating the consensus estimate of $1.12 by $0.04. The company posted revenue of $16.31 billion in the quarter, compared to $16.61 billion expected by analysts. Raytheon Technologies had a return on equity of 9.48% and a net margin of 6.84%. The company’s revenue for the quarter increased by 2.7% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $1.03. On average, equity research analysts expect Raytheon Technologies to post EPS of 4.66 for the current year.

Raytheon Technologies Company Profile

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Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services to 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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