Goldstein Advisors LLC acquired a new stake in Raytheon Technologies Co. (NYSE:RTX – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,282 shares of the company’s stock, valued at approximately $836,000.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Raytheon Technologies by 0.6% during the third quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock worth $10,083,098,000 after acquiring an additional 760,968 shares during the period. Capital World Investors increased its stake in Raytheon Technologies by 32.8% during 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 period. Alliancebernstein L.P. raised its holdings in Raytheon Technologies by 0.5% in the 3rd quarter. Alliancebernstein L.P. now owns 9,102,540 shares of the company’s stock valued at $745,134,000 after acquiring an additional 42,111 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Raytheon Technologies by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 8,812,201 shares of the company’s stock valued at $889,327,000 after acquiring an additional 237,021 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Raytheon Technologies by 4.7% in the first quarter. Royal Bank of Canada now owns 6,575,791 shares of the company’s stock worth $651,464,000 after purchasing an additional 294,366 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.
Raytheon Technologies Stock Performance
Shares of RTX opened at $102.25 on Monday. Raytheon Technologies Co. has a 1 year low of $80.27 and a 1 year high of $108.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.09 and a quick ratio of 0.81. The stock’s fifty day moving average price is $99.23 and its two-hundred day moving average price is $97.13. The firm has a market cap of $149.61 billion, a PE ratio of 29.21, a PEG ratio of 2.44 and a beta of 0.99.
Raytheon Technologies (NYSE:RTX – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. Raytheon Technologies had a net margin of 7.75% and a return on equity of 9.73%. The company had revenue of $18.09 billion during the quarter, compared to the consensus estimate of $18.16 billion. During the same period last year, the firm earned $1.08 EPS. Raytheon Technologies’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that Raytheon Technologies Co. will post 5.01 EPS for the current year.
Raytheon Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.15%. The ex-dividend date was Thursday, February 23rd. Raytheon Technologies’s dividend payout ratio (DPR) is currently 62.86%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on RTX. Credit Suisse Group upped their price objective on shares of Raytheon Technologies from $103.00 to $106.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 25th. Royal Bank of Canada raised their price objective on Raytheon Technologies from $107.00 to $110.00 in a report on Wednesday, January 25th. Wells Fargo & Company raised their price target on shares of Raytheon Technologies from $96.00 to $107.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 25th. The Goldman Sachs Group lowered shares of Raytheon Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $115.00 to $105.00 in a report on Friday, January 13th. Finally, Morgan Stanley decreased their target price on Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, January 19th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $111.50.
Insiders Place Their Bets
In other news, VP Amy L. Johnson sold 3,622 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $98.55, for a total value of $356,948.10. Following the completion of the sale, the vice president now directly owns 4,061 shares in the company, valued at approximately $400,211.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by insiders.
About Raytheon Technologies
Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).
See Also
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