Hexavest Inc. lowered its stake in shares of Raytheon Technologies Co. (NYSE:RTX) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,557 shares of the company’s stock after selling 3,410 shares during the quarter. Hexavest Inc.’s holdings in Raytheon Technologies were worth $2,334,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Procyon Private Wealth Partners LLC bought a new position in shares of Raytheon Technologies in the 1st quarter valued at about $173,000. Cramer Rosenthal Mcglynn LLC bought a new position in shares of Raytheon Technologies in the 1st quarter valued at about $2,574,000. Tudor Investment Corp Et Al bought a new position in shares of Raytheon Technologies in the 1st quarter valued at about $24,299,000. Capital Bank & Trust Co bought a new position in shares of Raytheon Technologies in the 1st quarter valued at about $8,271,000. Finally, Sawgrass Asset Management LLC bought a new position in shares of Raytheon Technologies in the 1st quarter valued at about $1,285,000. 74.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE RTX opened at $59.94 on Thursday. The firm has a market cap of $91.57 billion, a PE ratio of 7.26, a PEG ratio of 1.63 and a beta of 1.22. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45. Raytheon Technologies Co. has a 1-year low of $40.72 and a 1-year high of $93.47. The company has a fifty day moving average price of $60.22 and a 200 day moving average price of $65.30.
Raytheon Technologies (NYSE:RTX) last announced its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.30. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.39 billion. The firm’s revenue was up 24.1% on a year-over-year basis. Equities research analysts forecast that Raytheon Technologies Co. will post 3.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.17%. Raytheon Technologies’s dividend payout ratio is 23.00%.
RTX has been the topic of a number of analyst reports. ValuEngine downgraded shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a research report on Monday. Argus downgraded shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Citigroup cut their price target on shares of Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, June 25th. 140166 increased their price target on shares of Raytheon Technologies from $66.00 to $74.00 in a research report on Friday, July 17th. Finally, Goldman Sachs Group upgraded shares of Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a research report on Sunday, September 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $93.83.
Raytheon Technologies Company Profile
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
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