First Command Bank reduced its holdings in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,040 shares of the company’s stock after selling 1,869 shares during the period. First Command Bank’s holdings in Raytheon Technologies were worth $1,114,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in shares of Raytheon Technologies by 32.8% during the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after buying an additional 2,256,475 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Raytheon Technologies during the 3rd quarter worth about $103,133,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Raytheon Technologies by 137.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,110,424 shares of the company’s stock worth $209,080,000 after buying an additional 1,220,826 shares during the period. Vanguard Group Inc. boosted its holdings in Raytheon Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock valued at $10,083,098,000 after purchasing an additional 760,968 shares during the period. Finally, Great West Life Assurance Co. Can bought a new stake in Raytheon Technologies in the 3rd quarter valued at about $55,322,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.
Raytheon Technologies Stock Up 0.9 %
Shares of NYSE RTX opened at $97.70 on Thursday. The firm has a market cap of $142.96 billion, a PE ratio of 27.91, a P/E/G ratio of 2.31 and a beta of 1.00. Raytheon Technologies Co. has a 12-month low of $80.27 and a 12-month high of $108.84. The company’s fifty day simple moving average is $98.28 and its 200 day simple moving average is $95.04. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.41.
Raytheon Technologies declared that its board has approved a share repurchase plan on Monday, December 12th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Raytheon Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Friday, February 24th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, February 23rd. This represents a $2.20 dividend on an annualized basis and a yield of 2.25%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 62.86%.
Insider Buying and Selling
In related news, VP Amy L. Johnson sold 3,622 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $98.55, for a total transaction of $356,948.10. Following the completion of the sale, the vice president now owns 4,061 shares in the company, 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 corporate insiders.
Analyst Upgrades and Downgrades
RTX has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Raytheon Technologies from $96.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, January 25th. StockNews.com began coverage on shares of Raytheon Technologies in a report on Thursday, March 16th. They set a “buy” rating for the company. Royal Bank of Canada upped their price objective on shares of Raytheon Technologies from $107.00 to $110.00 in a research report on Wednesday, January 25th. The Goldman Sachs Group cut shares of Raytheon Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $115.00 to $105.00 in a research report on Friday, January 13th. Finally, Citigroup upped their price objective on shares of Raytheon Technologies from $104.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Raytheon Technologies presently has an average rating of “Moderate Buy” and an average price target of $111.17.
About Raytheon Technologies
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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