Top 5 Losers Today

4. Raytheon Technologies Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 45

Shares of Raytheon Technologies Corporation (NYSE:RTX) slightly moved down on Tuesday morning following its mixed third-quarter performance and revised sales outlook for fiscal 2022.

Raytheon Technologies Corporation (NYSE:RTX) earned $1.21 per share on an adjusted basis, down from $1.26 per share in the year-ago period. Revenue came in at $16.951 billion, up 5 percent on a year-over-year basis. Analysts were looking for earnings of $1.14 per share on revenue of $17.28 billion

For the full year, Raytheon Technologies Corporation (NYSE:RTX) lowered its sales outlook to a range of $67 – $67.3 billion, from its previous forecast between $67.75 – $68.75 billion.

Speaking on the results, CEO Greg Hayes said:

“While we expect industry-wide challenges to continue near-term, we remain focused on operational excellence, including cost containment and program performance, to deliver on our commitments.”