Ritholtz Wealth Management Acquires 1,375 Shares of Raytheon Technologies Co. (NYSE:RTX)

Ritholtz Wealth Management grew its position in Raytheon Technologies Co. (NYSE:RTX) by 19.0% in the first quarter, HoldingsChannel.com reports. The firm owned 8,594 shares of the company’s stock after acquiring an additional 1,375 shares during the period. Ritholtz Wealth Management’s holdings in Raytheon Technologies were worth $664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Evolution Wealth Advisors LLC raised its stake in Raytheon Technologies by 88.1% during the first quarter. Evolution Wealth Advisors LLC now owns 348 shares of the company’s stock valued at $27,000 after purchasing an additional 163 shares in the last quarter. IronBridge Private Wealth LLC bought a new position in Raytheon Technologies during the 4th quarter worth about $29,000. Disciplined Investments LLC lifted its position in shares of Raytheon Technologies by 136.9% during the first quarter. Disciplined Investments LLC now owns 372 shares of the company’s stock valued at $29,000 after buying an additional 215 shares during the last quarter. Annapolis Financial Services LLC purchased a new stake in shares of Raytheon Technologies during the fourth quarter valued at about $30,000. Finally, Paradigm Strategies in Wealth Management LLC purchased a new position in shares of Raytheon Technologies in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 78.40% of the company’s stock.

RTX has been the subject of a number of recent research reports. Wells Fargo & Company started coverage on shares of Raytheon Technologies in a research report on Tuesday, May 18th. They set an “equal weight” rating and a $87.00 price target for the company. Wolfe Research started coverage on shares of Raytheon Technologies in a research note on Friday, April 9th. They set an “outperform” rating and a $97.00 price objective on the stock. LADENBURG THALM/SH SH raised shares of Raytheon Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, May 3rd. Credit Suisse Group lifted their price target on shares of Raytheon Technologies from $94.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 19th. Finally, Morgan Stanley lifted their price target on shares of Raytheon Technologies from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Raytheon Technologies presently has a consensus rating of “Buy” and an average price target of $90.33.

In related news, EVP Frank R. Jimenez sold 19,713 shares of the business’s stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $82.47, for a total value of $1,625,731.11. Following the sale, the executive vice president now directly owns 62,221 shares in the company, valued at approximately $5,131,365.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Frank R. Jimenez sold 1,400 shares of the business’s stock in a transaction dated Friday, May 21st. The shares were sold at an average price of $85.97, for a total transaction of $120,358.00. Following the completion of the sale, the executive vice president now owns 74,374 shares in the company, valued at $6,393,932.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,665 shares of company stock worth $2,138,790. 0.11% of the stock is owned by insiders.

NYSE RTX opened at $88.25 on Friday. Raytheon Technologies Co. has a 52 week low of $51.92 and a 52 week high of $89.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.17. The business’s fifty day moving average is $83.43. The stock has a market cap of $133.71 billion, a price-to-earnings ratio of -49.30, a PEG ratio of 1.65 and a beta of 1.46.

Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings results on Monday, April 26th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.88 by $0.02. Raytheon Technologies had a positive return on equity of 5.54% and a negative net margin of 4.44%. The business had revenue of $15.25 billion for the quarter, compared to analyst estimates of $15.27 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. As a group, equities research analysts expect that Raytheon Technologies Co. will post 3.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Friday, May 21st will be issued a $0.51 dividend. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, May 20th. Raytheon Technologies’s payout ratio is 74.73%.

About Raytheon Technologies

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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