Kore Private Wealth LLC boosted its position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 6.4% in the 2nd quarter, Holdings Channel reports. The firm owned 17,296 shares of the company’s stock after buying an additional 1,045 shares during the quarter. Kore Private Wealth LLC’s holdings in Raytheon Technologies were worth $1,662,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. PFS Investments Inc. grew its stake in shares of Raytheon Technologies by 7.7% during the first quarter. PFS Investments Inc. now owns 136,922 shares of the company’s stock worth $13,565,000 after acquiring an additional 9,740 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in shares of Raytheon Technologies by 19.9% in the second quarter. Cetera Advisor Networks LLC now owns 117,595 shares of the company’s stock worth $11,302,000 after acquiring an additional 19,549 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Raytheon Technologies during the first quarter worth about $41,011,000. Bogart Wealth LLC grew its position in shares of Raytheon Technologies by 12.3% in the second quarter. Bogart Wealth LLC now owns 1,303 shares of the company’s stock valued at $125,000 after purchasing an additional 143 shares in the last quarter. Finally, ARGI Investment Services LLC increased its position in Raytheon Technologies by 23.7% during the second quarter. ARGI Investment Services LLC now owns 14,548 shares of the company’s stock worth $1,398,000 after purchasing an additional 2,786 shares during the last quarter. 79.89% of the stock is owned by hedge funds and other institutional investors.
Raytheon Technologies Stock Performance
NYSE RTX opened at $98.27 on Friday. The business’s 50 day moving average is $92.66 and its two-hundred day moving average is $92.01. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $144.46 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 2.21 and a beta of 1.07. Raytheon Technologies Co. has a 12-month low of $79.69 and a 12-month high of $106.02.
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 the consensus estimate of $1.11 by $0.10. The company had revenue of $16.95 billion for the quarter, compared to analyst estimates of $17.25 billion. Raytheon Technologies has a return on equity of 9.36% and a net margin of 6.76%. Raytheon Technologies’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. Research analysts expect that Raytheon Technologies Co. will post 4.76 EPS for the current year.
Raytheon Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors 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 annualized dividend and a dividend yield of 2.24%. Raytheon Technologies’ dividend payout ratio is currently 73.33%.
Insider Buying and Selling at Raytheon Technologies
In other Raytheon Technologies news, EVP Dantaya M. Williams sold 1,206 shares of the firm’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $92.01, for a total transaction of $110,964.06. Following the sale, the executive vice president now directly owns 10,596 shares of the company’s stock, valued at approximately $974,937.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Raytheon Technologies news, EVP Dantaya M. Williams sold 1,206 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $92.01, for a total transaction of $110,964.06. Following the transaction, the executive vice president now owns 10,596 shares of the company’s stock, valued at approximately $974,937.96. The sale was disclosed in a filing with the SEC, which is available on the SEC website. Also, CEO Gregory Hayes sold 4,260 shares of Raytheon Technologies stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $99.16, for a total value of $422,421.60. Following the completion of the sale, the chief executive officer now directly owns 453,685 shares of the company’s stock, valued at approximately $44,987,404.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,506 shares of company stock worth $1,012,702. 0.11% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on RTX. Citigroup initiated coverage on shares of Raytheon Technologies in a research note on Thursday. They issued a “neutral” rating and a $104.00 price target for the company. Wells Fargo & Company reduced their target price on Raytheon Technologies from $98.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 26th. Royal Bank of Canada lowered their price target on Raytheon Technologies from $107.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Morgan Stanley reduced their price objective on shares of Raytheon Technologies from $124.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Finally, Robert W. Baird dropped their price target on shares of Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Four equity research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $108.33.
Raytheon Technologies Profile
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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