Wedgewood Investors Inc. PA Reduces Holdings in Raytheon Technologies Co. (NYSE:RTX)

Wedgewood Investors Inc. PA lessened its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,550 shares of the company’s stock after selling 266 shares during the quarter. Wedgewood Investors Inc. PA’s holdings in Raytheon Technologies were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RTX. Nippon Life Global Investors Americas Inc. purchased a new position in Raytheon Technologies during the fourth quarter worth about $22,904,000. Conning Inc. grew its stake in Raytheon Technologies by 3,042.0% during the 1st quarter. Conning Inc. now owns 661,302 shares of the company’s stock worth $51,099,000 after purchasing an additional 640,255 shares in the last quarter. Allied Investment Advisors LLC raised its position in Raytheon Technologies by 7.2% in the 1st 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% during the first quarter. Private Advisor Group LLC now owns 174,559 shares of the company’s stock worth $13,488,000 after buying an additional 20,988 shares in the last quarter. Finally, Coho Partners Ltd. purchased a new stake in shares of Raytheon Technologies during the fourth quarter worth approximately $213,000. Hedge funds and other institutional investors own 75.09% of the company’s stock.

NYSE RTX traded down $0.68 on Tuesday, hitting $83.46. 70,286 shares of the company’s stock were exchanged, compared to its average volume of 7,299,329. The firm has a market cap of $126.45 billion, a price-to-earnings ratio of -72.53, a P/E/G ratio of 1.67 and a beta of 1.39. The firm’s 50-day moving average price is $78.75 and its two-hundred day moving average price is $71.64. Raytheon Technologies Co. has a fifty-two week low of $51.13 and a fifty-two week high of $84.44. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.22 and a quick ratio of 0.95.

Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Monday, April 26th. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The firm had revenue of $15.25 billion for the quarter, compared to analyst estimates of $15.27 billion. Raytheon Technologies had a positive return on equity of 8.35% and a negative net margin of 3.77%. Raytheon Technologies’s quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 earnings per share. On average, research analysts predict that Raytheon Technologies Co. will post 3.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Friday, May 21st will be paid a $0.51 dividend. This is a boost from Raytheon Technologies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, May 20th. This represents a $2.04 annualized dividend and a dividend yield of 2.44%. Raytheon Technologies’s dividend payout ratio (DPR) is 23.00%.

A number of equities research analysts have commented on the stock. Credit Suisse Group increased their price objective on shares of Raytheon Technologies from $81.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, April 20th. Susquehanna upped 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. Morgan Stanley raised their target price on Raytheon Technologies from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday. Zacks Investment Research cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a report on Friday. Finally, LADENBURG THALM/SH SH raised Raytheon Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $85.44.

In other news, EVP Frank R. Jimenez sold 19,713 shares of Raytheon Technologies stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $82.47, for a total transaction of $1,625,731.11. Following the completion of the sale, the executive vice president now directly owns 62,221 shares in the company, valued at approximately $5,131,365.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Raytheon Technologies Company 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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