Wedgewood Investors Inc. PA lowered its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 3.9% during the 1st quarter, Holdings Channel reports. The fund owned 6,550 shares of the company’s stock after selling 266 shares during the period. Wedgewood Investors Inc. PA’s holdings in Raytheon Technologies were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Nippon Life Global Investors Americas Inc. bought a new stake in shares of Raytheon Technologies during the fourth quarter valued at about $22,904,000. Conning Inc. lifted its holdings in shares of Raytheon Technologies by 3,042.0% in the first quarter. Conning Inc. now owns 661,302 shares of the company’s stock valued at $51,099,000 after buying an additional 640,255 shares during the period. Allied Investment Advisors LLC raised its position in Raytheon Technologies by 7.2% in the first quarter. Allied Investment Advisors LLC now owns 73,216 shares of the company’s stock worth $5,657,000 after acquiring an additional 4,947 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Raytheon Technologies by 13.7% during the 1st quarter. Private Advisor Group LLC now owns 174,559 shares of the company’s stock valued at $13,488,000 after purchasing an additional 20,988 shares in the last quarter. Finally, Coho Partners Ltd. acquired a new stake in Raytheon Technologies during the fourth quarter valued at approximately $213,000. Institutional investors own 75.09% of the company’s stock.
Several equities research analysts have recently weighed in on RTX shares. Credit Suisse Group raised their price objective on Raytheon Technologies from $81.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 20th. Susquehanna lifted their price target on Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a report on Wednesday, April 28th. Wolfe Research started coverage on Raytheon Technologies in a report on Thursday, April 15th. They issued an “outperform” rating and a $97.00 target price for the company. LADENBURG THALM/SH SH raised Raytheon Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday. Finally, Langenberg & Company upgraded Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned 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 price target of $85.44.
In other Raytheon Technologies news, EVP Frank R. Jimenez sold 19,713 shares of Raytheon Technologies stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $82.47, for a total transaction of $1,625,731.11. Following the transaction, the executive vice president now directly owns 62,221 shares of the company’s stock, valued at $5,131,365.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.
Shares of Raytheon Technologies stock traded down $0.68 on Tuesday, reaching $83.46. The stock had a trading volume of 70,286 shares, compared to its average volume of 7,299,329. The business’s 50 day moving average is $78.75 and its two-hundred day moving average is $71.64. The company has a current ratio of 1.22, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Raytheon Technologies Co. has a 1 year low of $51.13 and a 1 year high of $84.44. The company has a market cap of $126.45 billion, a P/E ratio of -72.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.39.
Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings results on Monday, April 26th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The firm had revenue of $15.25 billion during the quarter, compared to the consensus estimate of $15.27 billion. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. On average, equities analysts anticipate that Raytheon Technologies Co. will post 3.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Friday, May 21st will be issued a dividend of $0.51 per share. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, May 20th. Raytheon Technologies’s payout ratio is currently 23.00%.
Raytheon Technologies Profile
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 Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
Further Reading: How to find the components of the quick ratio
Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Technologies Co. (NYSE:RTX).