First Community Trust NA lifted its position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 15.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,378 shares of the company’s stock after purchasing an additional 587 shares during the period. First Community Trust NA’s holdings in Raytheon Technologies were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors increased its position in Raytheon Technologies by 32.8% during the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after acquiring an additional 2,256,475 shares during the period. Janney Montgomery Scott LLC bought a new position in Raytheon Technologies during the third quarter worth $103,133,000. Arrowstreet Capital Limited Partnership increased its holdings in Raytheon Technologies by 137.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,110,424 shares of the company’s stock valued at $209,080,000 after buying an additional 1,220,826 shares during the period. Vanguard Group Inc. increased its holdings in Raytheon Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock valued at $10,083,098,000 after buying an additional 760,968 shares during the period. Finally, Great West Life Assurance Co. Can bought a new stake in Raytheon Technologies in the 3rd quarter valued at $55,322,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.
Raytheon Technologies Stock Down 2.4 %
Shares of NYSE RTX opened at $95.75 on Friday. The firm’s 50-day simple moving average is $98.62 and its 200 day simple moving average is $94.52. The company has a market cap of $140.10 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.41. Raytheon Technologies Co. has a 12-month low of $80.27 and a 12-month high of $108.84.
Raytheon Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.30%. Raytheon Technologies’s payout ratio is presently 62.86%.
Raytheon Technologies announced that its Board of Directors has approved a share repurchase plan on Monday, December 12th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on RTX. Royal Bank of Canada boosted their price target on shares of Raytheon Technologies from $107.00 to $110.00 in a report on Wednesday, January 25th. The Goldman Sachs Group downgraded shares of Raytheon Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $115.00 to $105.00 in a research note on Friday, January 13th. StockNews.com began coverage on shares of Raytheon Technologies in a research note on Thursday. They issued a “buy” rating on the stock. Citigroup boosted their target price on shares of Raytheon Technologies from $104.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. Finally, Credit Suisse Group boosted their target price on shares of Raytheon Technologies from $103.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, January 25th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.17.
Insider Buying and Selling at Raytheon Technologies
In other Raytheon Technologies news, VP Amy L. Johnson sold 3,622 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $98.55, for a total transaction of $356,948.10. Following the transaction, the vice president now directly owns 4,061 shares in the company, valued at approximately $400,211.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.
Raytheon Technologies Profile
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).
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