Waters Parkerson & CO. LLC Purchases 459 Shares of Raytheon Technologies Co. (NYSE:RTX)

Waters Parkerson & CO. LLC increased its position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 1.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,545 shares of the company’s stock after acquiring an additional 459 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Raytheon Technologies were worth $2,664,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Capital World Investors lifted its position in Raytheon Technologies by 32.8% during the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares during the last quarter. Legal & General Group Plc lifted its position in Raytheon Technologies by 2.0% during the second quarter. Legal & General Group Plc now owns 8,070,171 shares of the company’s stock valued at $775,626,000 after purchasing an additional 160,953 shares during the last quarter. Royal Bank of Canada lifted its position in Raytheon Technologies by 4.7% during the first quarter. Royal Bank of Canada now owns 6,575,791 shares of the company’s stock valued at $651,464,000 after purchasing an additional 294,366 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Raytheon Technologies by 9.7% during the second quarter. Goldman Sachs Group Inc. now owns 5,431,147 shares of the company’s stock valued at $521,988,000 after purchasing an additional 479,207 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Raytheon Technologies by 1.1% during the second quarter. CIBC Private Wealth Group LLC now owns 4,664,836 shares of the company’s stock valued at $448,337,000 after purchasing an additional 50,550 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Raytheon Technologies

In other Raytheon Technologies news, CEO Gregory Hayes sold 4,260 shares of the business’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $99.16, for a total transaction of $422,421.60. Following the transaction, the chief executive officer now directly owns 453,685 shares of the company’s stock, valued at approximately $44,987,404.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Raytheon Technologies news, CEO Gregory Hayes sold 4,260 shares of the business’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $99.16, for a total transaction of $422,421.60. Following the transaction, the chief executive officer now directly owns 453,685 shares of the company’s stock, valued at approximately $44,987,404.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 3,343 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $95.53, for a total transaction of $319,356.79. Following the transaction, the insider now directly owns 24,176 shares in the company, valued at $2,309,533.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,506 shares of company stock valued at $1,012,702. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group boosted their price objective on shares of Raytheon Technologies from $83.00 to $103.00 and gave the stock a “neutral” rating in a report on Thursday, January 12th. StockNews.com upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Citigroup assumed coverage on shares of Raytheon Technologies in a report on Thursday, December 8th. They issued a “neutral” rating and a $104.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Finally, Morgan Stanley lowered their price objective on shares of Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, January 19th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Raytheon Technologies has an average rating of “Moderate Buy” and a consensus price target of $110.50.

Raytheon Technologies Trading Down 1.5 %

Shares of NYSE RTX traded down $1.52 during mid-day trading on Wednesday, hitting $97.95. The stock had a trading volume of 1,089,667 shares, compared to its average volume of 5,159,710. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.09. Raytheon Technologies Co. has a 1 year low of $80.27 and a 1 year high of $108.84. The business has a 50 day moving average price of $98.58 and a two-hundred day moving average price of $93.04. The firm has a market cap of $143.99 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 1.98 and a beta of 1.03.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its earnings results on Tuesday, January 24th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. Raytheon Technologies had a net margin of 6.76% and a return on equity of 9.36%. The company had revenue of $18.09 billion for the quarter, compared to the consensus estimate of $18.16 billion. During the same period in the previous year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that Raytheon Technologies Co. will post 4.76 EPS for the current fiscal year.

Raytheon Technologies announced that its Board of Directors has approved a share buyback plan on Monday, December 12th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

About Raytheon Technologies

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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.