Rock Creek Group LP Sells 266 Shares of Raytheon Technologies Co. (NYSE:RTX)

Rock Creek Group LP lessened its stake in shares of Raytheon Technologies Co. (NYSE:RTX) by 8.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,740 shares of the company’s stock after selling 266 shares during the period. Rock Creek Group LP’s holdings in Raytheon Technologies were worth $234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Ameriprise Financial Inc. raised its holdings in Raytheon Technologies by 53.4% during the first quarter. Ameriprise Financial Inc. now owns 14,886,660 shares of the company’s stock worth $1,150,450,000 after acquiring an additional 5,180,099 shares in the last quarter. Cullen Capital Management LLC raised its holdings in Raytheon Technologies by 248.6% during the first quarter. Cullen Capital Management LLC now owns 2,329,984 shares of the company’s stock worth $180,038,000 after acquiring an additional 1,661,592 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Raytheon Technologies by 104.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,176,423 shares of the company’s stock worth $245,442,000 after acquiring an additional 1,625,879 shares in the last quarter. HighTower Advisors LLC bought a new stake in Raytheon Technologies during the first quarter worth about $125,270,000. Finally, Royal Bank of Canada increased its position in Raytheon Technologies by 37.3% during the first quarter. Royal Bank of Canada now owns 5,558,194 shares of the company’s stock worth $429,482,000 after buying an additional 1,510,309 shares during the last quarter. Institutional investors and hedge funds own 78.21% of the company’s stock.

Shares of NYSE:RTX opened at $82.74 on Wednesday. The company has a market capitalization of $124.76 billion, a P/E ratio of 57.46, a P/E/G ratio of 1.56 and a beta of 1.45. Raytheon Technologies Co. has a 1 year low of $51.92 and a 1 year high of $89.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.17 and a quick ratio of 0.90. The business’s 50 day simple moving average is $85.47 and its 200 day simple moving average is $83.47.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings results on Monday, July 26th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.10. The business had revenue of $15.88 billion for the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a return on equity of 6.80% and a net margin of 3.51%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, sell-side analysts anticipate that Raytheon Technologies Co. will post 4.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 9th. Shareholders of record on Friday, August 20th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, August 19th. Raytheon Technologies’s payout ratio is presently 74.73%.

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their price target on Raytheon Technologies from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, June 3rd. Morgan Stanley boosted their price target on Raytheon Technologies from $97.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 11th. Argus raised Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Thursday, July 29th. Susquehanna Bancshares boosted their price target on Raytheon Technologies from $97.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, July 28th. Finally, Wells Fargo & Company started coverage on Raytheon Technologies in a research report on Tuesday, May 18th. They set an “equal weight” rating and a $87.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $97.77.

In other news, insider Wesley D. Kremer sold 5,512 shares of the stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $86.82, for a total value of $478,551.84. Following the completion of the transaction, the insider now directly owns 73,519 shares in the company, valued at approximately $6,382,919.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 60,000 shares of the stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $85.10, for a total value of $5,106,000.00. Following the completion of the transaction, the director now owns 101,704 shares of the company’s stock, valued at $8,655,010.40. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Raytheon Technologies Profile

Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems, Pratt and Whitney, Raytheon Intelligence and Space, and Raytheon Missiles and Defense.

Featured Article: How to calculate the intrinsic value of a stock

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).

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

Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.