Triangle Securities Wealth Management Lowers Position in Raytheon Technologies Co. (NYSE:RTX)

Triangle Securities Wealth Management decreased its holdings in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 5.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,228 shares of the company’s stock after selling 1,712 shares during the quarter. Triangle Securities Wealth Management’s holdings in Raytheon Technologies were worth $2,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Garrett Investment Advisors LLC increased its holdings in shares of Raytheon Technologies by 6.6% in the 1st quarter. Garrett Investment Advisors LLC now owns 4,714 shares of the company’s stock worth $467,000 after buying an additional 290 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in Raytheon Technologies by 372.2% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 305,841 shares of the company’s stock valued at $26,321,000 after acquiring an additional 241,070 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Raytheon Technologies by 26.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 112,464 shares of the company’s stock valued at $9,678,000 after purchasing an additional 23,852 shares in the last quarter. National Bank of Canada FI bought a new stake in Raytheon Technologies during the fourth quarter worth about $72,853,000. Finally, Allied Investment Advisors LLC boosted its holdings in shares of Raytheon Technologies by 2.1% in the 4th quarter. Allied Investment Advisors LLC now owns 79,851 shares of the company’s stock worth $6,872,000 after purchasing an additional 1,664 shares in the last quarter. 79.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:RTX opened at $92.56 on Thursday. The stock’s 50-day moving average is $95.60 and its 200 day moving average is $94.01. The company has a market cap of $137.66 billion, a PE ratio of 33.18, a P/E/G ratio of 1.85 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 0.88. Raytheon Technologies Co. has a 1 year low of $79.00 and a 1 year high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $15.72 billion for the quarter, compared to analyst estimates of $15.83 billion. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. Analysts expect that Raytheon Technologies Co. will post 4.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 19th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, August 18th. Raytheon Technologies’s payout ratio is currently 78.85%.

A number of analysts recently weighed in on the company. Morgan Stanley boosted their target price on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. Argus upped their price objective on shares of Raytheon Technologies from $100.00 to $112.00 in a research note on Wednesday, April 27th. StockNews.com raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. Cowen upped their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Finally, Royal Bank of Canada assumed coverage on Raytheon Technologies in a report on Friday, April 8th. They issued an “outperform” rating and a $125.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $111.91.

Raytheon Technologies Company Profile (Get Rating)

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

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