Hyman Charles D lowered its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,967 shares of the company’s stock after selling 3,270 shares during the quarter. Hyman Charles D’s holdings in Raytheon Technologies were worth $8,652,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Nippon Life Global Investors Americas Inc. purchased a new stake in shares of Raytheon Technologies in the fourth quarter valued at approximately $22,904,000. Conning Inc. grew its position in shares of Raytheon Technologies by 3,042.0% in the first quarter. Conning Inc. now owns 661,302 shares of the company’s stock valued at $51,099,000 after purchasing an additional 640,255 shares in the last quarter. Allied Investment Advisors LLC grew its position in shares of Raytheon Technologies by 7.2% in the first quarter. Allied Investment Advisors LLC now owns 73,216 shares of the company’s stock valued at $5,657,000 after purchasing an additional 4,947 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Raytheon Technologies by 13.7% in the first quarter. Private Advisor Group LLC now owns 174,559 shares of the company’s stock valued at $13,488,000 after purchasing an additional 20,988 shares in the last quarter. Finally, Coho Partners Ltd. purchased a new stake in shares of Raytheon Technologies in the fourth quarter valued at approximately $213,000. 75.09% of the stock is owned by institutional investors and hedge funds.
In other Raytheon Technologies news, EVP Frank R. Jimenez sold 19,713 shares of the firm’s 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 sale, the executive vice president now directly owns 62,221 shares in the company, valued at $5,131,365.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by company insiders.
Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Monday, April 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. The business had revenue of $15.25 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 34.3% compared to the same quarter last year. During the same period last year, the firm earned $1.78 earnings per share. On average, analysts expect that Raytheon Technologies Co. will post 3.01 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Friday, May 21st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, May 20th. This is a boost from Raytheon Technologies’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 2.43%. Raytheon Technologies’s dividend payout ratio (DPR) is currently 23.00%.
A number of equities research analysts have recently issued reports on RTX shares. Zacks Investment Research lowered Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 price target for the company. in a research report on Friday. Morgan Stanley increased their price objective on Raytheon Technologies from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday. Susquehanna increased their price objective on Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a research report on Wednesday, April 28th. Langenberg & Company upgraded Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Susquehanna Bancshares increased their price objective on Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a research report on Wednesday, April 28th. Three research 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 company. The stock currently has a consensus rating of “Buy” and an average price target of $85.44.
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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