Capital Management Associates NY Raises Stock Position in Raytheon Technologies Co. (NYSE:RTX)


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Capital Management Associates NY increased its stake in Raytheon Technologies Co. (NYSE:RTX) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,122 shares of the company’s stock after purchasing an additional 2,650 shares during the quarter. Capital Management Associates NY’s holdings in Raytheon Technologies were worth $1,010,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RTX. Arrowstreet Capital Limited Partnership boosted its holdings in Raytheon Technologies by 9,205.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,397,001 shares of the company’s stock worth $137,923,000 after purchasing an additional 2,371,241 shares during the last quarter. Pendal Group Limited purchased a new stake in Raytheon Technologies in the fourth quarter worth approximately $141,311,000. Toronto Dominion Bank boosted its holdings in Raytheon Technologies by 12,729.0% in the fourth quarter. Toronto Dominion Bank now owns 1,854,053 shares of the company’s stock worth $132,581,000 after purchasing an additional 1,839,601 shares during the last quarter. Morgan Stanley boosted its holdings in Raytheon Technologies by 9.5% in the third quarter. Morgan Stanley now owns 20,959,745 shares of the company’s stock worth $1,206,025,000 after purchasing an additional 1,819,900 shares during the last quarter. Finally, Ninety One UK Ltd boosted its holdings in Raytheon Technologies by 157.7% in the fourth quarter. Ninety One UK Ltd now owns 2,828,770 shares of the company’s stock worth $202,285,000 after purchasing an additional 1,731,251 shares during the last quarter. Institutional investors own 75.09% of the company’s stock.

NYSE RTX traded down $0.25 on Tuesday, reaching $72.75. The company had a trading volume of 127,952 shares, compared to its average volume of 7,410,491. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $110.54 billion, a PE ratio of -62.93, a price-to-earnings-growth ratio of 1.67 and a beta of 1.39. The firm’s 50 day moving average price is $70.25 and its 200 day moving average price is $65.71. Raytheon Technologies Co. has a 12 month low of $40.72 and a 12 month high of $87.41.

Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings results on Monday, January 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $16.42 billion for the quarter, compared to the consensus estimate of $16.07 billion. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. Raytheon Technologies’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. On average, research analysts expect that Raytheon Technologies Co. will post 3.01 EPS for the current year.

Raytheon Technologies announced that its board has authorized a share repurchase program on Monday, December 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 25th. Stockholders of record on Friday, February 26th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, February 25th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.61%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 23.00%.

RTX has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Raytheon Technologies from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research note on Friday, January 29th. DZ Bank upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Thursday, December 17th. JPMorgan Chase & Co. lifted their price target on shares of Raytheon Technologies from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 15th. Finally, Credit Suisse Group dropped their price target on shares of Raytheon Technologies from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $77.22.

Raytheon Technologies Profile

Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

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

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