Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Garrison Point Advisors LLC

Garrison Point Advisors LLC trimmed its holdings in Raytheon Technologies Co. (NYSE:RTX) by 7.0% during the first quarter, HoldingsChannel.com reports. The firm owned 7,917 shares of the company’s stock after selling 595 shares during the period. Garrison Point Advisors LLC’s holdings in Raytheon Technologies were worth $612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brookstone Capital Management increased its holdings in shares of Raytheon Technologies by 3.3% in the 4th quarter. Brookstone Capital Management now owns 12,607 shares of the company’s stock valued at $902,000 after acquiring an additional 407 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Raytheon Technologies by 17.7% in the 4th quarter. Global Retirement Partners LLC now owns 19,176 shares of the company’s stock valued at $1,371,000 after acquiring an additional 2,886 shares during the last quarter. Curbstone Financial Management Corp increased its holdings in shares of Raytheon Technologies by 3.8% in the 4th quarter. Curbstone Financial Management Corp now owns 34,804 shares of the company’s stock valued at $2,489,000 after acquiring an additional 1,270 shares during the last quarter. Breiter Capital Management Inc. increased its holdings in shares of Raytheon Technologies by 37.8% in the 4th quarter. Breiter Capital Management Inc. now owns 13,644 shares of the company’s stock valued at $976,000 after acquiring an additional 3,742 shares during the last quarter. Finally, Americana Partners LLC bought a new stake in shares of Raytheon Technologies in the 4th quarter valued at approximately $483,000. 75.09% of the stock is currently owned by institutional investors.

Shares of NYSE RTX traded up $1.63 during midday trading on Friday, reaching $85.41. 50,447 shares of the stock were exchanged, compared to its average volume of 7,208,965. The business has a 50-day simple moving average of $80.04 and a two-hundred day simple moving average of $72.77. The company has a market capitalization of $129.40 billion, a price-to-earnings ratio of -72.22, a P/E/G ratio of 1.67 and a beta of 1.39. Raytheon Technologies Co. has a 12 month low of $51.13 and a 12 month high of $87.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.22 and a quick ratio of 0.95.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings data on Monday, April 26th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The business had revenue of $15.25 billion for the quarter, compared to analyst estimates of $15.27 billion. During the same period last year, the business posted $1.78 earnings per share. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. Equities research analysts expect that Raytheon Technologies Co. will post 3.01 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Friday, May 21st will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, May 20th. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.48. Raytheon Technologies’s dividend payout ratio (DPR) is 23.00%.

RTX has been the subject of a number of recent research reports. Zacks Investment Research downgraded Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 price objective for the company. in a research note on Friday, April 30th. Wells Fargo & Company started coverage on shares of Raytheon Technologies in a research report on Wednesday. They set an “equal weight” rating and a $87.00 price objective for the company. Susquehanna boosted their price objective on Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a report on Wednesday, April 28th. Langenberg & Company raised Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Monday, May 3rd. Finally, Morgan Stanley upped their price target on shares of Raytheon Technologies from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 4th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Raytheon Technologies currently has a consensus rating of “Buy” and a consensus target price of $87.73.

In related news, EVP Frank R. Jimenez sold 19,713 shares of Raytheon Technologies stock in a transaction dated 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 completion of the sale, the executive vice president now owns 62,221 shares of the company’s stock, valued at approximately $5,131,365.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

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.

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Institutional Ownership by Quarter for Raytheon Technologies (NYSE:RTX)

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