Boltwood Capital Management Trims Position in Raytheon Technologies Co. (NYSE:RTX)

Boltwood Capital Management decreased its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 2.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,222 shares of the company’s stock after selling 150 shares during the period. Boltwood Capital Management’s holdings in Raytheon Technologies were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dodge & Cox increased its position in Raytheon Technologies by 29.0% during the 4th quarter. Dodge & Cox now owns 39,109,917 shares of the company’s stock valued at $2,796,750,000 after purchasing an additional 8,787,122 shares during the period. Morgan Stanley increased its position in Raytheon Technologies by 6.0% during the 4th quarter. Morgan Stanley now owns 22,214,052 shares of the company’s stock valued at $1,588,525,000 after purchasing an additional 1,254,307 shares during the period. Clearbridge Investments LLC increased its position in Raytheon Technologies by 1.7% during the 4th quarter. Clearbridge Investments LLC now owns 21,713,023 shares of the company’s stock valued at $1,552,698,000 after purchasing an additional 361,989 shares during the period. Norges Bank purchased a new position in Raytheon Technologies during the 4th quarter valued at about $1,089,275,000. Finally, Charles Schwab Investment Management Inc. increased its position in Raytheon Technologies by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,383,926 shares of the company’s stock valued at $957,083,000 after purchasing an additional 42,153 shares during the period. 75.09% of the stock is currently owned by institutional investors and hedge funds.

RTX stock traded down $0.60 during trading on Thursday, reaching $77.00. The company had a trading volume of 34,914 shares, compared to its average volume of 7,458,377. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.22. Raytheon Technologies Co. has a twelve month low of $51.13 and a twelve month high of $80.06. The firm has a 50-day simple moving average of $76.13 and a 200-day simple moving average of $68.97. The company has a market cap of $117.00 billion, a price-to-earnings ratio of -66.19, a price-to-earnings-growth ratio of 1.67 and a beta of 1.39.

Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Monday, January 25th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The business had revenue of $16.42 billion during the quarter, compared to analysts’ expectations of $16.07 billion. During the same period in the previous year, the business posted $1.16 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts expect that Raytheon Technologies Co. will post 3.01 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Friday, February 26th were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 25th. Raytheon Technologies’s payout ratio is 23.00%.

A number of research analysts have recently issued reports on RTX shares. Zacks Investment Research raised shares of Raytheon Technologies from a “sell” rating to a “hold” rating and set a $72.00 price objective on the stock in a research report on Friday, January 29th. DZ Bank raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Thursday, December 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Raytheon Technologies from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 15th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.12.

About Raytheon Technologies

Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: 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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