Dividend Assets Capital LLC cut its holdings in Raytheon Technologies Co. (NYSE:RTX) by 17.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 38,830 shares of the company’s stock after selling 8,076 shares during the period. Dividend Assets Capital LLC’s holdings in Raytheon Technologies were worth $3,000,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC lifted its position in Raytheon Technologies by 23.1% in the 1st quarter. Park Avenue Securities LLC now owns 8,386 shares of the company’s stock valued at $648,000 after purchasing an additional 1,573 shares during the last quarter. Lindbrook Capital LLC lifted its position in Raytheon Technologies by 16.0% in the 1st quarter. Lindbrook Capital LLC now owns 5,534 shares of the company’s stock valued at $428,000 after purchasing an additional 765 shares during the last quarter. WASHINGTON TRUST Co raised its position in shares of Raytheon Technologies by 14.6% during the 1st quarter. WASHINGTON TRUST Co now owns 202,725 shares of the company’s stock worth $15,664,000 after buying an additional 25,775 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in shares of Raytheon Technologies by 19.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 7,779 shares of the company’s stock worth $601,000 after buying an additional 1,264 shares in the last quarter. Finally, Delta Asset Management LLC TN raised its position in shares of Raytheon Technologies by 1.3% during the 1st quarter. Delta Asset Management LLC TN now owns 126,843 shares of the company’s stock worth $9,801,000 after buying an additional 1,674 shares in the last quarter. 75.09% of the stock is owned by institutional investors and hedge funds.
In other Raytheon Technologies news, EVP Frank R. Jimenez sold 19,713 shares of the company’s 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 owns 62,221 shares in the company, valued at approximately $5,131,365.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.
Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings results on Monday, April 26th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The company had revenue of $15.25 billion during the quarter, compared to analysts’ expectations of $15.27 billion. During the same period last year, the business earned $1.78 EPS. The business’s quarterly revenue was up 34.3% on a year-over-year basis. On average, equities research analysts anticipate that Raytheon Technologies Co. will post 3.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Friday, May 21st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, May 20th. Raytheon Technologies’s dividend payout ratio is presently 23.00%.
Several research analysts have recently weighed in on the stock. Credit Suisse Group lifted their target price on shares of Raytheon Technologies from $81.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 20th. Susquehanna Bancshares boosted their price objective on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. LADENBURG THALM/SH SH raised shares of Raytheon Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Monday. Langenberg & Company raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Monday. Finally, 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 research report on Tuesday. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $85.44.
About Raytheon Technologies
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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