Crossvault Capital Management LLC Raises Stock Position in Raytheon Technologies Co. (NYSE:RTX)

Crossvault Capital Management LLC increased its stake in Raytheon Technologies Co. (NYSE:RTX) by 1.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 95,154 shares of the company’s stock after acquiring an additional 1,290 shares during the quarter. Raytheon Technologies makes up about 2.6% of Crossvault Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Crossvault Capital Management LLC’s holdings in Raytheon Technologies were worth $7,353,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fort Pitt Capital Group LLC purchased a new stake in Raytheon Technologies in the 4th quarter worth $21,733,000. Evolution Wealth Advisors LLC increased its holdings in Raytheon Technologies by 88.1% in the 1st quarter. Evolution Wealth Advisors LLC now owns 348 shares of the company’s stock worth $27,000 after acquiring an additional 163 shares in the last quarter. IronBridge Private Wealth LLC purchased a new stake in Raytheon Technologies in the 4th quarter worth $29,000. Annapolis Financial Services LLC acquired a new stake in Raytheon Technologies during the 4th quarter worth $30,000. Finally, JJJ Advisors Inc. boosted its stake in Raytheon Technologies by 52.5% during the 4th quarter. JJJ Advisors Inc. now owns 453 shares of the company’s stock worth $32,000 after purchasing an additional 156 shares during the last quarter. 75.09% of the stock is owned by institutional investors.

In other Raytheon Technologies news, EVP Frank R. Jimenez sold 19,713 shares of the stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $82.47, for a total value of $1,625,731.11. Following the completion of the transaction, the executive vice president now owns 62,221 shares in the company, valued at $5,131,365.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

Several equities research analysts have issued reports on RTX shares. Wolfe Research started coverage on shares of Raytheon Technologies in a research note on Thursday, April 15th. They set an “outperform” rating and a $97.00 target price on the stock. Zacks Investment Research cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 price target on the stock. in a research report on Friday. Susquehanna boosted their price target on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. Langenberg & Company raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Susquehanna Bancshares boosted their price target on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Raytheon Technologies has an average rating of “Buy” and a consensus price target of $85.44.

RTX traded up $0.03 on Tuesday, reaching $84.17. The company’s stock had a trading volume of 43,954 shares, compared to its average volume of 7,299,329. The stock has a 50 day moving average of $78.75 and a two-hundred day moving average of $71.64. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $127.53 billion, a price-to-earnings ratio of -72.53, a P/E/G ratio of 1.67 and a beta of 1.39. Raytheon Technologies Co. has a fifty-two week low of $51.13 and a fifty-two week high of $84.44.

Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings data on Monday, April 26th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The business had revenue of $15.25 billion during the quarter, compared to the consensus estimate of $15.27 billion. Raytheon Technologies had a positive return on equity of 8.35% and a negative net margin of 3.77%. The company’s revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 earnings per share. As a group, analysts anticipate that Raytheon Technologies Co. will post 3.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Friday, May 21st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, May 20th. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 2.42%. Raytheon Technologies’s dividend payout ratio (DPR) is currently 23.00%.

Raytheon Technologies Profile

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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