Park Avenue Securities LLC lifted its stake in shares of Raytheon Technologies Co. (NYSE:RTX – Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,258 shares of the company’s stock after buying an additional 135 shares during the quarter. Park Avenue Securities LLC’s holdings in Raytheon Technologies were worth $2,082,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of RTX. Norges Bank acquired a new stake in shares of Raytheon Technologies in the fourth quarter valued at approximately $1,580,608,000. Moneta Group Investment Advisors LLC boosted its stake in Raytheon Technologies by 87,932.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after purchasing an additional 13,598,794 shares during the period. Morgan Stanley grew its position in Raytheon Technologies by 11.3% during the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after purchasing an additional 3,104,282 shares during the last quarter. Capital World Investors increased its stake in Raytheon Technologies by 32.8% in the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares during the period. Finally, Edmp Inc. raised its holdings in shares of Raytheon Technologies by 9,799.1% in the fourth 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. Institutional investors and hedge funds own 78.72% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on RTX shares. Susquehanna boosted their price target on Raytheon Technologies from $116.00 to $117.00 in a research 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. Citigroup upped their price objective on shares of Raytheon Technologies from $106.00 to $113.50 in a research report on Wednesday, April 26th. Robert W. Baird lifted their target price on shares of Raytheon Technologies from $106.00 to $115.00 in a report on Wednesday, April 26th. Finally, StockNews.com initiated coverage on shares of Raytheon Technologies in a report on Thursday, May 18th. They set a “buy” rating for the company. Five equities research 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, Raytheon Technologies has a consensus rating of “Moderate Buy” and an average price target of $111.88.
Raytheon Technologies Trading Up 0.2 %
Raytheon Technologies (NYSE:RTX – Free Report) last issued 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 firm had revenue of $17.21 billion during 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 earnings per share. On average, research analysts anticipate that Raytheon Technologies Co. will post 5.04 EPS for the current fiscal year.
Raytheon Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Friday, August 18th will be paid a $0.59 dividend. The ex-dividend date is Thursday, August 17th. This represents a $2.36 dividend on an annualized basis and a yield of 2.41%. Raytheon Technologies’s payout ratio is 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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