Investors Asset Management of Georgia Inc. GA ADV Boosts Holdings in Raytheon Technologies Co. (NYSE:RTX)

Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 17.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,736 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Raytheon Technologies were worth $388,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Procyon Private Wealth Partners LLC purchased a new stake in shares of Raytheon Technologies during the first quarter worth about $173,000. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of Raytheon Technologies during the first quarter worth about $2,574,000. Tudor Investment Corp Et Al purchased a new stake in shares of Raytheon Technologies during the first quarter worth about $24,299,000. Capital Bank & Trust Co purchased a new stake in shares of Raytheon Technologies during the first quarter worth about $8,271,000. Finally, Sawgrass Asset Management LLC purchased a new stake in shares of Raytheon Technologies during the first quarter worth about $1,285,000. Institutional investors and hedge funds own 74.47% of the company’s stock.

NYSE RTX opened at $61.75 on Friday. The company’s fifty day simple moving average is $60.19 and its 200-day simple moving average is $65.02. Raytheon Technologies Co. has a 52 week low of $40.72 and a 52 week high of $93.47. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45. The stock has a market cap of $94.33 billion, a P/E ratio of 7.48, a PEG ratio of 1.63 and a beta of 1.22.

Raytheon Technologies (NYSE:RTX) last posted its earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.30. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Raytheon Technologies’s revenue was up 24.1% on a year-over-year basis. On average, research analysts expect that Raytheon Technologies Co. will post 3.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, November 13th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.08%. Raytheon Technologies’s payout ratio is currently 23.00%.

RTX has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price target on shares of Raytheon Technologies from $69.00 to $66.00 in a report on Friday, July 17th. Vertical Research upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $52.00 to $77.00 in a report on Friday, July 10th. ValuEngine downgraded shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 12th. Goldman Sachs Group upgraded shares of Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a report on Sunday, September 20th. Finally, Citigroup lowered their target price on shares of Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating for the company in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $93.83.

Raytheon Technologies Profile

Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates in four businesses: 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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