Sound View Wealth Advisors Group LLC reduced its stake in shares of Raytheon Technologies Co. (NYSE:RTX) by 2.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,952 shares of the company’s stock after selling 313 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Raytheon Technologies were worth $1,078,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Crossvault Capital Management LLC boosted its stake in shares of Raytheon Technologies by 1.4% during the first quarter. Crossvault Capital Management LLC now owns 95,154 shares of the company’s stock valued at $7,353,000 after purchasing an additional 1,290 shares during the period. Park Avenue Securities LLC lifted its stake in Raytheon Technologies by 23.1% in the first quarter. Park Avenue Securities LLC now owns 8,386 shares of the company’s stock worth $648,000 after acquiring an additional 1,573 shares during the period. Lindbrook Capital LLC lifted its stake in Raytheon Technologies by 16.0% in the first quarter. Lindbrook Capital LLC now owns 5,534 shares of the company’s stock worth $428,000 after acquiring an additional 765 shares during the period. WASHINGTON TRUST Co lifted its stake in Raytheon Technologies by 14.6% in the first quarter. WASHINGTON TRUST Co now owns 202,725 shares of the company’s stock worth $15,664,000 after acquiring an additional 25,775 shares during the period. Finally, Legacy Financial Advisors Inc. lifted its stake in Raytheon Technologies by 19.4% in the first quarter. Legacy Financial Advisors Inc. now owns 7,779 shares of the company’s stock worth $601,000 after acquiring an additional 1,264 shares during the period. 75.09% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Frank R. Jimenez sold 19,713 shares of the stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $82.47, for a total value of $1,625,731.11. Following the completion of the transaction, the executive vice president now directly owns 62,221 shares of the company’s stock, valued at approximately $5,131,365.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.
A number of analysts recently weighed in on RTX shares. Wolfe Research started coverage on shares of Raytheon Technologies in a research note on Thursday, April 15th. They issued an “outperform” rating and a $97.00 price objective for the company. Zacks Investment Research downgraded shares of Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a report on Friday. Morgan Stanley boosted their target price on shares of Raytheon Technologies from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday. Susquehanna Bancshares boosted their target price on shares of Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a report on Wednesday, April 28th. Finally, Susquehanna boosted their target price on shares of Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a report on Wednesday, April 28th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $85.44.
Shares of NYSE:RTX traded down $0.68 during midday trading on Tuesday, reaching $83.46. 70,286 shares of the company’s stock traded hands, compared to its average volume of 7,299,329. 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 PEG ratio of 1.67 and a beta of 1.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.22. The company has a fifty day simple moving average of $78.75 and a two-hundred day simple moving average of $71.64.
Raytheon Technologies (NYSE:RTX) last announced its earnings results on Monday, April 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. Raytheon Technologies had a positive return on equity of 8.35% and a negative net margin of 3.77%. The firm had revenue of $15.25 billion for the quarter, compared to analyst estimates of $15.27 billion. During the same quarter last year, the firm posted $1.78 EPS. The business’s revenue was up 34.3% on a year-over-year basis. As a group, research analysts forecast that Raytheon Technologies Co. will post 3.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Friday, May 21st will be paid a $0.51 dividend. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, May 20th. Raytheon Technologies’s dividend payout ratio is currently 23.00%.
Raytheon Technologies Company 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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