Tributary Capital Management LLC reduced its position in Raytheon Technologies Co. (NYSE:RTX) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,287 shares of the company’s stock after selling 300 shares during the period. Tributary Capital Management LLC’s holdings in Raytheon Technologies were worth $362,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in Raytheon Technologies during the 2nd quarter valued at $7,929,593,000. Capital Research Global Investors acquired a new stake in Raytheon Technologies during the 1st quarter valued at $1,786,892,000. Bank of New York Mellon Corp acquired a new stake in shares of Raytheon Technologies during the second quarter worth $975,282,000. Nuveen Asset Management LLC acquired a new stake in shares of Raytheon Technologies during the second quarter worth $893,868,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Raytheon Technologies during the second quarter worth $826,942,000. 74.47% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. Argus cut Raytheon Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, July 29th. Credit Suisse Group reduced their target price on Raytheon Technologies from $81.00 to $75.00 and set an “outperform” rating on the stock in a report on Monday. Morgan Stanley assumed coverage on Raytheon Technologies in a report on Tuesday, September 8th. They issued an “overweight” rating and a $89.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Raytheon Technologies from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, ValuEngine lowered Raytheon Technologies from a “hold” rating to a “sell” rating in a research report on Monday. 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 a consensus rating of “Buy” and an average target price of $93.83.
RTX opened at $59.94 on Thursday. The company has a market capitalization of $91.57 billion, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.91. Raytheon Technologies Co. has a 1-year low of $40.72 and a 1-year high of $93.47. The business has a 50 day moving average price of $60.22 and a two-hundred day moving average price of $65.30.
Raytheon Technologies (NYSE:RTX) last released its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.30. The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.39 billion. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. Equities analysts expect that Raytheon Technologies Co. will post 3.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, November 13th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.17%. Raytheon Technologies’s dividend payout ratio (DPR) is 23.00%.
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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