FourThought Financial LLC cut its holdings in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 15.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,317 shares of the company’s stock after selling 1,348 shares during the period. FourThought Financial LLC’s holdings in Raytheon Technologies were worth $599,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors grew its position in Raytheon Technologies by 32.8% during the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Raytheon Technologies in the 3rd quarter worth approximately $103,133,000. Arrowstreet Capital Limited Partnership raised its stake in Raytheon Technologies by 137.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,110,424 shares of the company’s stock valued at $209,080,000 after buying an additional 1,220,826 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Raytheon Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock worth $10,083,098,000 after buying an additional 760,968 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Raytheon Technologies in the third quarter worth $55,322,000. 78.83% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Raytheon Technologies
In other Raytheon Technologies news, VP Amy L. Johnson sold 3,622 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $98.55, for a total transaction of $356,948.10. Following the transaction, the vice president now owns 4,061 shares of the company’s stock, valued at $400,211.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Raytheon Technologies Price Performance
NYSE RTX opened at $95.83 on Thursday. The stock’s fifty day moving average price is $98.91 and its 200 day moving average price is $94.46. Raytheon Technologies Co. has a 1 year low of $80.27 and a 1 year high of $108.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market cap of $140.39 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 2.34 and a beta of 1.00.
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings results on Tuesday, January 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The company had revenue of $18.09 billion during the quarter, compared to analyst estimates of $18.16 billion. Raytheon Technologies had a net margin of 7.75% and a return on equity of 9.73%. Raytheon Technologies’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.08 EPS. As a group, equities research analysts forecast that Raytheon Technologies Co. will post 5 earnings per share for the current year.
Raytheon Technologies announced that its board has approved a stock buyback plan on Monday, December 12th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Raytheon Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, February 23rd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.30%. Raytheon Technologies’s payout ratio is currently 62.86%.
Raytheon Technologies Profile
Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).
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