ICA Group Wealth Management LLC decreased its position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 18.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,146 shares of the company’s stock after selling 2,131 shares during the period. ICA Group Wealth Management LLC’s holdings in Raytheon Technologies were worth $923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Capital World Investors raised its stake in Raytheon Technologies by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after acquiring an additional 2,256,475 shares during the last quarter. Edmp Inc. raised its stake in shares of Raytheon Technologies by 9,799.1% during the 4th quarter. Edmp Inc. now owns 1,378,938 shares of the company’s stock valued at $13,664,000 after buying an additional 1,365,008 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake 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 valued at $209,080,000 after buying an additional 1,220,826 shares during the last quarter. Retirement Systems of Alabama purchased a new position in shares of Raytheon Technologies during the 4th quarter valued at about $109,657,000. Finally, Vanguard Group Inc. raised its stake in shares of Raytheon Technologies by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock valued at $10,083,098,000 after buying an additional 760,968 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Citigroup lifted their price objective on Raytheon Technologies from $106.00 to $113.50 in a research note on Wednesday, April 26th. Robert W. Baird raised their target price on Raytheon Technologies from $106.00 to $115.00 in a research report on Wednesday, April 26th. StockNews.com assumed coverage on Raytheon Technologies in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Jefferies Financial Group cut Raytheon Technologies from a “buy” rating to a “hold” rating and dropped their target price for the company from $115.00 to $110.00 in a research report on Thursday, April 20th. Finally, Wolfe Research upgraded Raytheon Technologies from a “peer perform” rating to an “outperform” rating and set a $117.00 target price on the stock in a research report on Wednesday, April 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $111.88.
Raytheon Technologies Trading Up 0.3 %
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.09. The company had revenue of $17.21 billion for the quarter, compared to analysts’ expectations of $16.98 billion. Raytheon Technologies had a return on equity of 9.81% and a net margin of 8.08%. Raytheon Technologies’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 EPS. On average, sell-side analysts anticipate that Raytheon Technologies Co. will post 5.05 EPS for the current fiscal year.
Raytheon Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, August 17th. Raytheon Technologies’s dividend payout ratio is currently 62.93%.
Raytheon Technologies Company Profile
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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