FARMERS & MERCHANTS TRUST Co OF LONG BEACH Decreases Stake in Raytheon Technologies Co. (NYSE:RTX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 4.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,206 shares of the company’s stock after selling 300 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Raytheon Technologies were worth $619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RTX. Man Group plc raised its position in Raytheon Technologies by 82.8% during the 1st quarter. Man Group plc now owns 25,195 shares of the company’s stock worth $1,947,000 after buying an additional 11,414 shares during the last quarter. Gladstone Institutional Advisory LLC increased its holdings in shares of Raytheon Technologies by 122.1% during the 1st quarter. Gladstone Institutional Advisory LLC now owns 7,126 shares of the company’s stock valued at $551,000 after purchasing an additional 3,918 shares in the last quarter. Axiom Investment Management LLC purchased a new position in shares of Raytheon Technologies during the 1st quarter valued at approximately $312,000. Stonnington Group LLC acquired a new stake in Raytheon Technologies in the 1st quarter valued at $204,000. Finally, Childress Capital Advisors LLC acquired a new stake in Raytheon Technologies in the 1st quarter valued at $270,000. 78.62% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Raytheon Technologies from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 27th. Argus upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Thursday, July 29th. Morgan Stanley boosted their price objective on Raytheon Technologies from $97.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 11th. Susquehanna upped their price target on Raytheon Technologies from $97.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Finally, Benchmark reissued a “hold” rating on shares of Raytheon Technologies in a report on Wednesday, August 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $98.54.

NYSE:RTX traded down $0.12 during trading hours on Thursday, reaching $87.19. 3,464,747 shares of the company’s stock were exchanged, compared to its average volume of 5,885,341. The firm has a market capitalization of $130.50 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 1.61 and a beta of 1.38. The company has a 50-day moving average of $88.44 and a 200 day moving average of $86.92. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Raytheon Technologies Co. has a 1-year low of $65.02 and a 1-year high of $92.32.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings results on Monday, October 25th. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.18. The firm had revenue of $16.20 billion during the quarter, compared to analysts’ expectations of $16.36 billion. Raytheon Technologies had a net margin of 5.20% and a return on equity of 8.13%. Raytheon Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. Research analysts forecast that Raytheon Technologies Co. will post 4.2 EPS for the current fiscal year.

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

In related news, EVP Michael R. Dumais sold 3,000 shares of the stock in a transaction on Friday, November 5th. The shares were 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. 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.

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

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