Amundi lifted its stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 0.0% during the 2nd quarter, according to the company’s most recent disclosure with the Securities & Exchange Commission. The fund owned 1,472,472 shares of the company’s stock after buying an additional 118 shares during the period. Amundi’s holdings in Raytheon Technologies were worth $132,640,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PFS Investments Inc. raised its holdings in shares of Raytheon Technologies by 7.7% in the first quarter. PFS Investments Inc. now owns 136,922 shares of the company’s stock valued at $13,565,000 after purchasing an additional 9,740 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in Raytheon Technologies by 19.9% in the 2nd quarter. Cetera Advisor Networks LLC now owns 117,595 shares of the company’s stock valued at $11,302,000 after buying an additional 19,549 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Raytheon Technologies during the 1st quarter worth approximately $41,011,000. Bogart Wealth LLC boosted its stake in shares of Raytheon Technologies by 12.3% in the 2nd quarter. Bogart Wealth LLC now owns 1,303 shares of the company’s stock worth $125,000 after buying an additional 143 shares during the last quarter. Finally, ARGI Investment Services LLC grew its holdings in shares of Raytheon Technologies by 23.7% in the second quarter. ARGI Investment Services LLC now owns 14,548 shares of the company’s stock valued at $1,398,000 after acquiring an additional 2,786 shares in the last quarter. 79.89% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Gregory Hayes sold 4,260 shares of the stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $99.16, for a total value of $422,421.60. Following the sale, the chief executive officer now owns 453,685 shares in the company, valued at $44,987,404.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Raytheon Technologies news, CEO Gregory Hayes sold 4,260 shares of the firm’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $99.16, for a total value of $422,421.60. Following the sale, the chief executive officer now owns 453,685 shares of the company’s stock, valued at approximately $44,987,404.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 3,343 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $95.53, for a total value of $319,356.79. Following the transaction, the insider now directly owns 24,176 shares of the company’s stock, valued at approximately $2,309,533.28. The disclosure for this sale can be found here. Insiders sold 10,506 shares of company stock worth $1,012,702 in the last three months. Corporate insiders own 0.11% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Raytheon Technologies from $102.00 to $107.00 and gave the stock an “overweight” rating in a research report on Monday. Credit Suisse Group reduced their price target on shares of Raytheon Technologies from $85.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, October 26th. StockNews.com raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, October 20th. Wolfe Research initiated coverage on shares of Raytheon Technologies in a research report on Monday, October 10th. They set a “peer performing” rating for the company. Finally, Royal Bank of Canada decreased their price target on shares of Raytheon Technologies from $107.00 to $102.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Four equity research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.23.
Raytheon Technologies Price Performance
Shares of NYSE RTX opened at $99.95 on Thursday. 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 fifty-two week low of $79.69 and a fifty-two week high of $106.02. The stock has a market cap of $146.93 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.18 and a beta of 1.07. The stock has a fifty day moving average of $93.58 and a 200-day moving average of $92.11.
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its earnings results on Tuesday, October 25th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10. Raytheon Technologies has a return on equity of 9.36% and a net margin of 6.76%. The business had revenue of $16.95 billion during the quarter, compared to analyst estimates of $17.25 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Raytheon Technologies Co. will post 4.76 earnings per share for the current year.
Raytheon Technologies announced that its board has initiated a share repurchase program on Monday, December 12th that authorizes the company to buy back $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
Raytheon Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.20%. Raytheon Technologies’ dividend payout ratio (DPR) is currently 73.33%.
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.
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