Arkadios Wealth Advisors Grows Stock Holdings in Raytheon Technologies Co. (NYSE:RTX)

Arkadios Wealth Advisors lifted its stake in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 17.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,693 shares of the company’s stock after purchasing an additional 4,176 shares during the period. Arkadios Wealth Advisors’ holdings in Raytheon Technologies were worth $2,795,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Corundum Group Inc. acquired a new position in Raytheon Technologies in the 3rd quarter valued at about $250,000. Cetera Advisor Networks LLC lifted 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 in the last quarter. High Note Wealth LLC lifted its stake in shares of Raytheon Technologies by 6.3% during the 3rd quarter. High Note Wealth LLC now owns 10,041 shares of the company’s stock worth $922,000 after purchasing an additional 598 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Raytheon Technologies by 5.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 36,088 shares of the company’s stock worth $2,954,000 after purchasing an additional 1,730 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Raytheon Technologies during the 3rd quarter worth $163,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Raytheon Technologies Stock Down 2.4 %

Shares of RTX stock traded down $2.33 during trading hours on Friday, hitting $95.75. 8,157,775 shares of the company were exchanged, compared to its average volume of 4,933,511. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 1.09. Raytheon Technologies Co. has a one year low of $80.27 and a one year high of $108.84. The business’s 50-day simple moving average is $98.62 and its two-hundred day simple moving average is $94.52. The stock has a market capitalization of $140.10 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 2.36 and a beta of 1.00.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. Raytheon Technologies had a net margin of 7.75% and a return on equity of 9.73%. The business had revenue of $18.09 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter last year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts predict that Raytheon Technologies Co. will post 5 EPS for the current fiscal year.

Raytheon Technologies declared that its Board of Directors has initiated a share buyback program on Monday, December 12th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Raytheon Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Friday, February 24th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, February 23rd. This represents a $2.20 annualized dividend and a dividend yield of 2.30%. Raytheon Technologies’s payout ratio is 62.86%.

Insiders Place Their Bets

In other Raytheon Technologies news, VP Amy L. Johnson sold 3,622 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $98.55, for a total value of $356,948.10. Following the transaction, the vice president now owns 4,061 shares of the company’s stock, valued at $400,211.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on Raytheon Technologies from $102.00 to $107.00 and gave the stock an “overweight” rating in a report on Monday, December 12th. Credit Suisse Group increased their price target on Raytheon Technologies from $103.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 25th. Royal Bank of Canada increased their price target on Raytheon Technologies from $107.00 to $110.00 in a report on Wednesday, January 25th. Wells Fargo & Company increased their price target on Raytheon Technologies from $96.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, January 25th. Finally, The Goldman Sachs Group downgraded Raytheon Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the company from $115.00 to $105.00 in a report on Friday, January 13th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Raytheon Technologies currently has an average rating of “Moderate Buy” and an average price target of $111.17.

Raytheon Technologies Company Profile

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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 (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).