Ridgewood Investments LLC cut its holdings in shares of Raytheon Technologies Co. (NYSE:RTX – Free Report) by 47.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,118 shares of the company’s stock after selling 1,000 shares during the quarter. Ridgewood Investments LLC’s holdings in Raytheon Technologies were worth $109,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. GoalVest Advisory LLC raised its holdings in 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 acquiring an additional 200 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of Raytheon Technologies in the 4th quarter valued at about $31,000. My Personal CFO LLC acquired a new stake in shares of Raytheon Technologies in the 4th quarter valued at about $32,000. Pin Oak Investment Advisors Inc. lifted its position in shares of Raytheon Technologies by 60.5% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 353 shares of the company’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. Finally, Rebalance LLC acquired a new position in Raytheon Technologies in the fourth quarter worth about $36,000. 78.72% of the stock is owned by institutional investors and hedge funds.
Raytheon Technologies Stock Down 0.6 %
RTX opened at $97.42 on Monday. The stock’s 50 day moving average price is $96.66 and its 200 day moving average price is $98.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $142.34 billion, a P/E ratio of 25.98, a P/E/G ratio of 2.34 and a beta of 0.99. Raytheon Technologies Co. has a 12 month low of $80.27 and a 12 month high of $108.84.
Raytheon Technologies Announces Dividend
The business 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. The ex-dividend date is Thursday, August 17th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.42%. Raytheon Technologies’s dividend payout ratio (DPR) is 62.93%.
Analyst Ratings Changes
A number of research analysts have commented on RTX shares. Citigroup increased their target price on Raytheon Technologies from $106.00 to $113.50 in a report on Wednesday, April 26th. StockNews.com assumed coverage on shares of Raytheon Technologies in a research note on Thursday, May 18th. They set a “buy” rating for the company. Susquehanna raised their price target on shares of Raytheon Technologies from $116.00 to $117.00 in a research report on Wednesday, April 26th. Jefferies Financial Group downgraded shares of Raytheon Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $110.00 in a research report on Thursday, April 20th. Finally, Robert W. Baird raised their target price on shares of Raytheon Technologies from $106.00 to $115.00 in a report on Wednesday, April 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Raytheon Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $111.88.
About Raytheon Technologies
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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