Stock Traders Purchase Large Volume of Raytheon Technologies Call Options (NYSE:RTX)

Posted by Defense World Staff on Jun 7th, 2023

Raytheon Technologies Co. (NYSE:RTX – Get Rating) was the target of unusually large options trading on Tuesday. Stock traders purchased 14,089 call options on the company. This is an increase of 31% compared to the typical volume of 10,776 call options.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Robert W. Baird raised their target price on Raytheon Technologies from $106.00 to $115.00 in a research report on Wednesday, April 26th. Citigroup raised their price target on Raytheon Technologies from $106.00 to $113.50 in a report on Wednesday, April 26th. Wolfe Research raised Raytheon Technologies from a “peer perform” rating to an “outperform” rating and set a $117.00 price target for the company in a report on Wednesday, April 12th. StockNews.com began coverage on Raytheon Technologies in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group lowered Raytheon Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $115.00 to $110.00 in a research note on Thursday, April 20th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its position in Raytheon Technologies by 4.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,951,711 shares of the company’s stock valued at $8,016,000 after purchasing an additional 202,376 shares during the last quarter. Wiley BROS. Aintree Capital LLC bought a new position in shares of Raytheon Technologies in the 4th quarter worth approximately $238,000. High Note Wealth LLC raised its position in shares of Raytheon Technologies by 6.3% in the 3rd quarter. High Note Wealth LLC now owns 10,041 shares of the company’s stock worth $922,000 after acquiring an additional 598 shares in the last quarter. Hoxton Planning & Management LLC bought a new position in shares of Raytheon Technologies in the 4th quarter worth approximately $278,000. Finally, Wendell David Associates Inc. raised its position in shares of Raytheon Technologies by 0.3% in the 4th quarter. Wendell David Associates Inc. now owns 66,590 shares of the company’s stock worth $6,720,000 after acquiring an additional 210 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Raytheon Technologies Stock Up 1.8 %

RTX opened at $97.45 on Wednesday. The company has a market cap of $142.39 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.31 and a beta of 0.99. The business’s 50-day moving average price is $97.82 and its 200-day moving average price is $98.38. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Raytheon Technologies has a 12 month low of $80.27 and a 12 month high of $108.84.

Raytheon Technologies (NYSE:RTX – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. The firm had revenue of $17.21 billion for the quarter, compared to the consensus estimate of $16.98 billion. Raytheon Technologies had a return on equity of 9.81% and a net margin of 8.08%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. On average, equities analysts expect that Raytheon Technologies will post 5.05 EPS for the current year.

Raytheon Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 18th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.42%. Raytheon Technologies’s payout ratio is 62.93%.

About Raytheon Technologies

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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).