Norway Savings Bank purchased a new stake in shares of Raytheon Technologies Co. (NYSE:RTX) in the 3rd quarter, HoldingsChannel reports. The fund purchased 3,243 shares of the company’s stock, valued at approximately $187,000.
Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Raytheon Technologies by 18.1% during the 3rd quarter. Larson Financial Group LLC now owns 1,294 shares of the company’s stock worth $74,000 after acquiring an additional 198 shares in the last quarter. Harvest Group Wealth Management LLC grew its holdings in Raytheon Technologies by 77.6% in the second quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock worth $28,000 after purchasing an additional 201 shares during the last quarter. Jacobi Capital Management LLC acquired a new position in shares of Raytheon Technologies during the second quarter worth $761,000. Coastal Capital Group Inc. lifted its holdings in shares of Raytheon Technologies by 13.0% during the 3rd quarter. Coastal Capital Group Inc. now owns 2,368 shares of the company’s stock valued at $136,000 after purchasing an additional 272 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Raytheon Technologies by 1.3% in the 3rd quarter. Private Trust Co. NA now owns 22,047 shares of the company’s stock worth $1,268,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 74.47% of the company’s stock.
A number of equities research analysts have commented on RTX shares. Credit Suisse Group decreased their price target on Raytheon Technologies from $81.00 to $75.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. Vertical Research raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $52.00 to $77.00 in a research report on Friday, July 10th. Goldman Sachs Group raised shares of Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a research report on Sunday, September 20th. Royal Bank of Canada lowered their price objective on shares of Raytheon Technologies from $69.00 to $66.00 in a research note on Friday, July 17th. Finally, 140166 boosted their price objective on shares of Raytheon Technologies from $66.00 to $74.00 in a report on Friday, July 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $93.83.
Raytheon Technologies stock opened at $61.75 on Friday. The firm has a market cap of $94.33 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. Raytheon Technologies Co. has a 52 week low of $40.72 and a 52 week high of $93.47. The business’s 50-day moving average price is $60.19 and its 200 day moving average price is $65.02. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.45.
Raytheon Technologies (NYSE:RTX) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.30. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.39 billion. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. Equities analysts expect that Raytheon Technologies Co. will post 3.1 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, November 13th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.90 annualized dividend and a yield of 3.08%. Raytheon Technologies’s dividend payout ratio is presently 23.00%.
Raytheon Technologies 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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