Fintel reports that on September 14, 2023, B of A Securities downgraded their outlook for RTX (NYSE:RTX) from Neutral to Underperform.

Analyst Price Forecast Suggests 35.94% Upside

As of August 31, 2023, the average one-year price target for RTX is 102.71. The forecasts range from a low of 91.91 to a high of $115.50. The average price target represents an increase of 35.94% from its latest reported closing price of 75.56.

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The projected annual revenue for RTX is 73,253MM, an increase of 3.80%. The projected annual non-GAAP EPS is 5.16.

What is the Fund Sentiment?

There are 3414 funds or institutions reporting positions in RTX. This is a decrease of 59 owner(s) or 1.70% in the last quarter. Average portfolio weight of all funds dedicated to RTX is 0.58%, a decrease of 4.76%. Total shares owned by institutions decreased in the last three months by 1.89% to 1,405,090K shares. The put/call ratio of RTX is 0.58, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital Research Global Investors holds 66,528K shares representing 4.58% ownership of the company. In it’s prior filing, the firm reported owning 73,662K shares, representing a decrease of 10.72%. The firm decreased its portfolio allocation in RTX by 15.17% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 45,582K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 45,352K shares, representing an increase of 0.50%. The firm decreased its portfolio allocation in RTX by 7.24% over the last quarter.

Capital International Investors holds 45,420K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 46,031K shares, representing a decrease of 1.35%. The firm decreased its portfolio allocation in RTX by 7.42% over the last quarter.

Wellington Management Group Llp holds 39,296K shares representing 2.71% ownership of the company. In it’s prior filing, the firm reported owning 40,982K shares, representing a decrease of 4.29%. The firm decreased its portfolio allocation in RTX by 8.47% over the last quarter.

Jpmorgan Chase holds 38,155K shares representing 2.63% ownership of the company. In it’s prior filing, the firm reported owning 36,998K shares, representing an increase of 3.03%. The firm increased its portfolio allocation in RTX by 632.83% over the last quarter.

Raytheon Technologies Background Information
(This description is provided by the company.)

Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ? Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ? the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.

This article originally appeared on Fintel

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