Accurate Wealth Management LLC increased its position in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 5.7% during the fourth quarter, Holdings Channel reports. The fund owned 5,393 shares of the company’s stock after acquiring an additional 290 shares during the quarter. Accurate Wealth Management LLC’s holdings in Raytheon Technologies were worth $539,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Capital World Investors boosted its position in shares of Raytheon Technologies by 32.8% in the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after buying an additional 2,256,475 shares during the period. Janney Montgomery Scott LLC purchased a new position in Raytheon Technologies in the third quarter valued at about $103,133,000. Arrowstreet Capital Limited Partnership increased its holdings in Raytheon Technologies by 137.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,110,424 shares of the company’s stock worth $209,080,000 after buying an additional 1,220,826 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Raytheon Technologies by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock worth $10,083,098,000 after purchasing an additional 760,968 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in Raytheon Technologies during the third quarter valued at about $55,322,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on RTX. Royal Bank of Canada boosted their target price on shares of Raytheon Technologies from $107.00 to $110.00 in a research report on Wednesday, January 25th. JPMorgan Chase & Co. lifted their price objective on Raytheon Technologies from $102.00 to $107.00 and gave the company an “overweight” rating in a report on Monday, December 12th. Morgan Stanley reduced their price target on shares of Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, January 19th. StockNews.com began coverage on Raytheon Technologies in a report on Thursday. They set a “buy” rating on the stock. Finally, Credit Suisse Group upped their target price on shares of Raytheon Technologies from $103.00 to $106.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.17.
Insider Buying and Selling at Raytheon Technologies
Raytheon Technologies Stock Performance
Shares of RTX stock traded down $2.33 on Friday, hitting $95.75. The company’s stock had a trading volume of 8,157,775 shares, 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 fifty-two week low of $80.27 and a fifty-two week high of $108.84. The stock’s 50 day moving average is $98.62 and its 200-day moving average is $94.52. The company has a market capitalization of $140.10 billion, a PE ratio of 27.36, a PEG ratio of 2.36 and a beta of 1.00.
Raytheon Technologies (NYSE:RTX – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $1.08 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that Raytheon Technologies Co. will post 5 earnings per share for the current fiscal year.
Raytheon Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Friday, February 24th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, February 23rd. Raytheon Technologies’s payout ratio is 62.86%.
Raytheon Technologies declared that its board has initiated a share buyback plan on Monday, December 12th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 4.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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 (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).
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