Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its holdings in Raytheon Technologies Co. (NYSE:RTX) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 23,799 shares of the company’s stock after selling 719 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Raytheon Technologies were worth $2,030,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Holistic Financial Partners increased its position in shares of Raytheon Technologies by 13.7% in the second quarter. Holistic Financial Partners now owns 9,506 shares of the company’s stock worth $811,000 after acquiring an additional 1,144 shares in the last quarter. Inscription Capital LLC boosted its stake in Raytheon Technologies by 425.9% during the 2nd quarter. Inscription Capital LLC now owns 127,445 shares of the company’s stock valued at $10,872,000 after acquiring an additional 103,211 shares during the last quarter. Wambolt & Associates LLC boosted its stake in Raytheon Technologies by 16.7% during the 2nd quarter. Wambolt & Associates LLC now owns 15,507 shares of the company’s stock valued at $1,337,000 after acquiring an additional 2,221 shares during the last quarter. Lincoln National Corp boosted its stake in Raytheon Technologies by 6.0% during the 2nd quarter. Lincoln National Corp now owns 28,217 shares of the company’s stock valued at $2,407,000 after acquiring an additional 1,608 shares during the last quarter. Finally, Sigma Planning Corp boosted its stake in Raytheon Technologies by 1.0% during the 2nd quarter. Sigma Planning Corp now owns 47,304 shares of the company’s stock valued at $4,036,000 after acquiring an additional 463 shares during the last quarter. 78.21% of the stock is owned by institutional investors.

In related news, insider Wesley D. Kremer sold 5,512 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $86.82, for a total transaction of $478,551.84. Following the transaction, the insider now owns 73,519 shares of the company’s stock, valued at $6,382,919.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

A number of research firms have commented on RTX. Susquehanna Bancshares increased their price objective on shares of Raytheon Technologies from $97.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. TheStreet upgraded shares of Raytheon Technologies from a “c+” rating to a “b-” rating in a research report on Tuesday, July 27th. Susquehanna raised their price target on shares of Raytheon Technologies from $97.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, July 28th. Argus upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Thursday, July 29th. Finally, Benchmark restated a “hold” rating on shares of Raytheon Technologies in a research report on Wednesday, August 25th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $97.77.

Raytheon Technologies stock opened at $89.68 on Thursday. The stock has a market cap of $135.23 billion, a price-to-earnings ratio of 62.28, a PEG ratio of 1.56 and a beta of 1.45. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $85.97 and its two-hundred day moving average price is $84.95. Raytheon Technologies Co. has a 52 week low of $51.92 and a 52 week high of $91.38.

Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Monday, July 26th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $15.83 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. Research analysts expect that Raytheon Technologies Co. will post 4.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Friday, November 19th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.27%. Raytheon Technologies’s payout ratio is 74.73%.

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, Pratt and Whitney, Raytheon Intelligence and Space, and Raytheon Missiles and Defense.

Featured Article: How is a Moving Average Calculated?

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Technologies Co. (NYSE:RTX).

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

Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.