Atlas Brown Inc. Buys 658 Shares of Raytheon Technologies Co. (NYSE:RTX)

Atlas Brown Inc. grew its holdings in Raytheon Technologies Co. (NYSE:RTX) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,399 shares of the company’s stock after acquiring an additional 658 shares during the period. Atlas Brown Inc.’s holdings in Raytheon Technologies were worth $1,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hillsdale Investment Management Inc. purchased a new stake in shares of Raytheon Technologies in the second quarter worth $26,000. Moisand Fitzgerald Tamayo LLC grew its stake in Raytheon Technologies by 448.3% during the second quarter. Moisand Fitzgerald Tamayo LLC now owns 318 shares of the company’s stock valued at $27,000 after acquiring an additional 260 shares in the last quarter. Keel Point LLC purchased a new position in shares of Raytheon Technologies in the 2nd quarter worth $613,000. Cypress Point Wealth Management LLC purchased a new position in shares of Raytheon Technologies in the 2nd quarter worth $40,000. Finally, Independence Bank of Kentucky purchased a new position in shares of Raytheon Technologies in the 2nd quarter worth $42,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

In related news, EVP Michael R. Dumais sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $90.54, for a total transaction of $271,620.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

A number of brokerages recently weighed in on RTX. Morgan Stanley lifted their price objective on shares of Raytheon Technologies from $97.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 11th. Argus raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Thursday, July 29th. Susquehanna lifted their price objective on shares of Raytheon Technologies from $97.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Susquehanna Bancshares boosted their target price on shares of Raytheon Technologies from $97.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Finally, Wells Fargo & Company boosted their target price on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 27th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Raytheon Technologies has an average rating of “Buy” and an average price target of $98.54.

Shares of NYSE:RTX traded down $0.12 during trading on Thursday, reaching $87.19. 3,464,747 shares of the stock were exchanged, compared to its average volume of 5,885,341. The firm’s 50-day moving average price is $88.44 and its 200 day moving average price is $86.92. The firm has a market cap of $130.50 billion, a price-to-earnings ratio of 39.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.23. Raytheon Technologies Co. has a 12-month low of $65.02 and a 12-month high of $92.32.

Raytheon Technologies (NYSE:RTX) last announced its earnings results on Monday, October 25th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.18. Raytheon Technologies had a return on equity of 8.13% and a net margin of 5.20%. The company had revenue of $16.20 billion for the quarter, compared to analyst estimates of $16.36 billion. During the same period in the prior year, the company posted $0.58 EPS. Raytheon Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that Raytheon Technologies Co. will post 4.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Stockholders of record on Friday, November 19th will be paid a $0.51 dividend. The ex-dividend date is Thursday, November 18th. This represents a $2.04 annualized dividend and a dividend yield of 2.34%. Raytheon Technologies’s payout ratio is 92.73%.

About Raytheon Technologies

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.

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

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