Mather Group LLC. Has $1.13 Million Stock Position in Raytheon Technologies Co. (NYSE:RTX)

Posted by Defense World Staff on Jun 18th, 2023

Mather Group LLC. boosted its stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 31.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,212 shares of the company’s stock after purchasing an additional 2,704 shares during the period. Mather Group LLC.’s holdings in Raytheon Technologies were worth $1,132,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of RTX. GoalVest Advisory LLC grew its stake in shares of Raytheon Technologies by 219.8% in the fourth quarter. GoalVest Advisory LLC now owns 291 shares of the company’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Raytheon Technologies in the 4th quarter valued at about $31,000. My Personal CFO LLC acquired a new position in shares of Raytheon Technologies during the 4th quarter worth about $32,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of Raytheon Technologies by 60.5% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 353 shares of the company’s stock valued at $36,000 after purchasing an additional 133 shares during the period. Finally, Rebalance LLC bought a new position in Raytheon Technologies during the fourth quarter worth about $36,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RTX shares. Susquehanna raised their price objective on Raytheon Technologies from $116.00 to $117.00 in a research report on Wednesday, April 26th. Citigroup upped their price objective on shares of Raytheon Technologies from $106.00 to $113.50 in a report on Wednesday, April 26th. Wolfe Research raised shares of Raytheon Technologies from a “peer perform” rating to an “outperform” rating and set a $117.00 target price for the company in a report on Wednesday, April 12th. Jefferies Financial Group cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating and lowered their price target for the company from $115.00 to $110.00 in a report on Thursday, April 20th. Finally, Robert W. Baird boosted their price objective on Raytheon Technologies from $106.00 to $115.00 in a report on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.88.

Raytheon Technologies Stock Down 0.3 %

Shares of NYSE RTX opened at $97.74 on Friday. Raytheon Technologies Co. has a 52 week low of $80.27 and a 52 week high of $108.84. The stock’s fifty day moving average is $97.83 and its 200 day moving average is $98.46. 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 capitalization of $142.81 billion, a P/E ratio of 26.06, a PEG ratio of 2.35 and a beta of 0.99.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. Raytheon Technologies had a net margin of 8.08% and a return on equity of 9.81%. The company had revenue of $17.21 billion during the quarter, compared to the consensus estimate of $16.98 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Sell-side analysts forecast that Raytheon Technologies Co. will post 5.04 earnings per share for the current fiscal year.

Raytheon Technologies Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.41%. Raytheon Technologies’s dividend payout ratio (DPR) is currently 62.93%.

About Raytheon Technologies

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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.