Raytheon Technologies Co. (NYSE:RTX) Stake Trimmed by Northstar Asset Management LLC

Northstar Asset Management LLC lowered its stake in Raytheon Technologies Co. (NYSE:RTX) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,566 shares of the company’s stock after selling 667 shares during the quarter. Northstar Asset Management LLC’s holdings in Raytheon Technologies were worth $2,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Transform Wealth LLC grew its stake in Raytheon Technologies by 48.2% during the 2nd quarter. Transform Wealth LLC now owns 9,292 shares of the company’s stock valued at $793,000 after acquiring an additional 3,020 shares in the last quarter. Pinebridge Investments L.P. grew its stake in Raytheon Technologies by 3.1% during the 1st quarter. Pinebridge Investments L.P. now owns 168,667 shares of the company’s stock valued at $13,033,000 after acquiring an additional 5,095 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Raytheon Technologies by 18.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,757 shares of the company’s stock valued at $1,372,000 after acquiring an additional 2,770 shares in the last quarter. Doyle Wealth Management grew its stake in Raytheon Technologies by 4.2% during the 1st quarter. Doyle Wealth Management now owns 114,302 shares of the company’s stock valued at $8,832,000 after acquiring an additional 4,611 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in Raytheon Technologies by 0.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 4,843,805 shares of the company’s stock valued at $374,281,000 after acquiring an additional 14,228 shares in the last quarter. 78.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE RTX traded down $0.31 during trading on Monday, reaching $83.08. The company had a trading volume of 108,089 shares, compared to its average volume of 6,176,494. Raytheon Technologies Co. has a 52 week low of $51.92 and a 52 week high of $89.98. The stock has a market cap of $125.27 billion, a PE ratio of 57.91, a PEG ratio of 1.56 and a beta of 1.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 1.17. The business’s 50 day moving average price is $85.36 and its 200-day moving average price is $83.67.

Raytheon Technologies (NYSE:RTX) last announced its earnings results on Monday, July 26th. The company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.10. Raytheon Technologies had a net margin of 3.51% and a return on equity of 6.80%. The company had revenue of $15.88 billion during the quarter, compared to the consensus estimate of $15.83 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. Equities analysts anticipate that Raytheon Technologies Co. will post 4.04 earnings per share for the current year.

Several equities analysts have weighed in on RTX shares. TheStreet raised Raytheon Technologies from a “c+” rating to a “b-” rating in a research note on Tuesday, July 27th. Susquehanna Bancshares boosted their target price on Raytheon Technologies from $97.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, July 28th. Jefferies Financial Group boosted their price objective on shares of Raytheon Technologies from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, June 3rd. Morgan Stanley raised their target price on shares of Raytheon Technologies from $97.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 11th. Finally, Argus upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Thursday, July 29th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Raytheon Technologies presently has a consensus rating of “Buy” and an average price target of $97.77.

In related news, Director Robert Kelly Ortberg sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, July 15th. The shares were sold at an average price of $85.10, for a total transaction of $5,106,000.00. Following the completion of the sale, the director now directly owns 101,704 shares of the company’s stock, valued at $8,655,010.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wesley D. Kremer sold 5,512 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $86.82, for a total transaction of $478,551.84. Following the sale, the insider now directly owns 73,519 shares of the company’s stock, valued at $6,382,919.58. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

About Raytheon Technologies

Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems, Pratt and Whitney, Raytheon Intelligence and Space, and Raytheon Missiles and Defense.

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

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