San Francisco Sentry Investment Group CA cut its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 22.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,620 shares of the company’s stock after selling 2,737 shares during the period. San Francisco Sentry Investment Group CA’s holdings in Raytheon Technologies were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in RTX. Kessler Investment Group LLC acquired a new stake in shares of Raytheon Technologies in the 2nd quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Raytheon Technologies in the 2nd quarter valued at approximately $27,000. Harvest Group Wealth Management LLC raised its position in shares of Raytheon Technologies by 77.6% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock valued at $28,000 after acquiring an additional 201 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Raytheon Technologies in the 2nd quarter valued at approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Raytheon Technologies in the 2nd quarter valued at approximately $31,000. Institutional investors own 74.47% of the company’s stock.
A number of analysts recently issued reports on RTX shares. Citigroup lowered their target price on Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, June 25th. ValuEngine cut Raytheon Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 12th. Royal Bank of Canada lowered their target price on Raytheon Technologies from $69.00 to $66.00 in a research note on Friday, July 17th. Morgan Stanley began coverage on Raytheon Technologies in a research note on Tuesday, September 8th. They set an “overweight” rating and a $89.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Raytheon Technologies from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $93.83.
Raytheon Technologies (NYSE:RTX) last released its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $13.39 billion. Raytheon Technologies’s quarterly revenue was up 24.1% compared to the same quarter last year. On average, equities analysts predict that Raytheon Technologies Co. will post 3.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, November 12th. Raytheon Technologies’s dividend payout ratio is 23.00%.
Raytheon Technologies Company 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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