Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Hummer Financial Advisory Services Inc

Hummer Financial Advisory Services Inc cut its stake in Raytheon Technologies Co. (NYSE:RTX) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,764 shares of the company’s stock after selling 316 shares during the period. Hummer Financial Advisory Services Inc’s holdings in Raytheon Technologies were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RTX. Procyon Private Wealth Partners LLC bought a new position in Raytheon Technologies in the 1st quarter worth about $173,000. Cramer Rosenthal Mcglynn LLC bought a new position in Raytheon Technologies in the 1st quarter worth approximately $2,574,000. Capital Bank & Trust Co acquired a new stake in Raytheon Technologies in the 1st quarter valued at approximately $8,271,000. Sawgrass Asset Management LLC bought a new stake in Raytheon Technologies during the 1st quarter valued at $1,285,000. Finally, Capital International Investors acquired a new position in Raytheon Technologies during the 1st quarter worth $1,091,668,000. Institutional investors own 74.47% of the company’s stock.

RTX stock opened at $61.75 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.91. The firm has a market capitalization of $94.33 billion, a P/E ratio of 7.48, a P/E/G ratio of 1.63 and a beta of 1.22. Raytheon Technologies Co. has a 52-week low of $40.72 and a 52-week high of $93.47. The company’s 50 day simple moving average is $60.19 and its 200-day simple moving average is $65.02.

Raytheon Technologies (NYSE:RTX) last announced its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.30. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. Raytheon Technologies’s revenue for the quarter was up 24.1% on a year-over-year basis. Sell-side analysts predict that Raytheon Technologies Co. will post 3.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, November 13th will be paid a $0.475 dividend. 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 currently 23.00%.

A number of equities research analysts recently weighed in on RTX shares. Citigroup cut their price objective on shares of Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. 140166 boosted their price target on shares of Raytheon Technologies from $66.00 to $74.00 in a research report on Friday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of Raytheon Technologies from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Morgan Stanley started coverage on shares of Raytheon Technologies in a research note on Tuesday, September 8th. They set an “overweight” rating and a $89.00 price objective on the stock. Finally, ValuEngine downgraded Raytheon Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $93.83.

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

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