5 Best 3D Printing Stocks to Buy Now

2. Raytheon Technologies Corporation (NYSE: RTX)

Number of Hedge Fund Holders: 58

Raytheon Technologies Corporation (NYSE: RTX) is an aerospace and defense company that provides systems and services for commercial, military, and government customers across the world. The company is branching out into the 3D printing sector with its 3D printed guided missile. It ranks 2nd on our list of the best 3D printing stocks to buy now.

This June, Jefferies raised its price target on Raytheon Technologies Corporation (NYSE: RTX) to $105, while retaining its Buy rating on the shares, in light of hosing investor meetings with the company’s CEO and CFO. Raytheon Technologies Corporation (NYSE: RTX) also has Buy ratings at Langenberg and Redburn.

In the first quarter of 2021, Raytheon Technologies Corporation (NYSE: RTX) had an EPS of $0.90, beating estimates by $0.07. The company’s revenue was $15.25 billion, missing estimates by -$81.84 million, and it has a gross profit margin of 14.82%. The stock has gained 22.41% in the past 6 months and 24.86% year to date as well.

As of the end of the first quarter of 2021, 58 hedge funds out of the 866 tracked by Insider Monkey held stakes in Raytheon Technologies Corporation (NYSE: RTX) worth roughly $2.49 billion. This is compared to 59 hedge funds in the previous quarter with a total stake value of about $2.72 billion.

Davis Funds, an investment management firm, mentioned Raytheon Technologies Corporation (NYSE: RTX) in its fourth-quarter 2020 investor letter. Here’s what they said:

“In today’s uncertain economy, we believe we have found such businesses trading at bargain prices in two sectors: industrials and financials. In the industrial space, concerns about the impact of the economic downturn on short-term profitability led to a wave of selling in a select group of leaders with durable competitive advantages, long records of profitability and bright long-term prospects. Companies like Raytheon Technologies is a wonderful example of attractive investments in this sector.”