Interchange Capital Partners LLC Makes New $214,000 Investment in Raytheon Technologies Co. (NYSE:RTX)

Posted by Defense World Staff on Jun 13th, 2023

Interchange Capital Partners LLC purchased a new position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,120 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Marathon Capital Management boosted its stake in Raytheon Technologies by 2.5% in the 4th quarter. Marathon Capital Management now owns 5,015 shares of the company’s stock worth $506,000 after buying an additional 123 shares during the last quarter. Osterweis Capital Management Inc. boosted its stake in Raytheon Technologies by 59.9% in the 4th quarter. Osterweis Capital Management Inc. now owns 1,690 shares of the company’s stock worth $171,000 after buying an additional 633 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in Raytheon Technologies by 29.5% in the 4th quarter. Cetera Advisor Networks LLC now owns 157,454 shares of the company’s stock worth $15,890,000 after buying an additional 35,875 shares during the last quarter. Tyler Stone Wealth Management boosted its stake in Raytheon Technologies by 5.0% in the 4th quarter. Tyler Stone Wealth Management now owns 2,097 shares of the company’s stock worth $212,000 after buying an additional 100 shares during the last quarter. Finally, Cary Street Partners Asset Management LLC boosted its stake in Raytheon Technologies by 3.1% in the 4th quarter. Cary Street Partners Asset Management LLC now owns 30,257 shares of the company’s stock worth $3,053,000 after buying an additional 897 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Raytheon Technologies Trading Up 0.1 %

NYSE RTX opened at $99.42 on Tuesday. Raytheon Technologies Co. has a twelve month low of $80.27 and a twelve month high of $108.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $145.27 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 2.38 and a beta of 0.99. The firm’s 50 day moving average price is $97.87 and its two-hundred day moving average price is $98.44.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its earnings results on Tuesday, April 25th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 earnings per share. Equities analysts anticipate that Raytheon Technologies Co. will post 5.05 EPS for the current year.

Raytheon Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Friday, August 18th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.36 annualized dividend and a dividend yield of 2.37%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 62.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wolfe Research raised Raytheon Technologies from a “peer perform” rating to an “outperform” rating and set a $117.00 price objective on the stock in a research note on Wednesday, April 12th. Citigroup lifted their price objective on Raytheon Technologies from $106.00 to $113.50 in a research note on Wednesday, April 26th. Jefferies Financial Group lowered Raytheon Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from $115.00 to $110.00 in a research note on Thursday, April 20th. Robert W. Baird lifted their price objective on Raytheon Technologies from $106.00 to $115.00 in a research note on Wednesday, April 26th. Finally, Susquehanna lifted their price objective on Raytheon Technologies from $116.00 to $117.00 in a research note on Wednesday, April 26th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.88.

Raytheon Technologies Profile

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Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

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Institutional Ownership by Quarter for Raytheon Technologies (NYSE:RTX)

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