Edgestream Partners L.P. Purchases 668 Shares of Raytheon Technologies Co. (NYSE:RTX)

Edgestream Partners L.P. raised its position in Raytheon Technologies Co. (NYSE:RTX) by 23.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,471 shares of the company’s stock after acquiring an additional 668 shares during the period. Edgestream Partners L.P.’s holdings in Raytheon Technologies were worth $296,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Ameriprise Financial Inc. lifted its stake in Raytheon Technologies by 53.4% in the 1st quarter. Ameriprise Financial Inc. now owns 14,886,660 shares of the company’s stock valued at $1,150,450,000 after acquiring an additional 5,180,099 shares in the last quarter. Cullen Capital Management LLC increased its position in shares of Raytheon Technologies by 248.6% during the 1st quarter. Cullen Capital Management LLC now owns 2,329,984 shares of the company’s stock worth $180,038,000 after purchasing an additional 1,661,592 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Raytheon Technologies by 104.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,176,423 shares of the company’s stock worth $245,442,000 after purchasing an additional 1,625,879 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Raytheon Technologies during the 1st quarter worth approximately $125,270,000. Finally, Royal Bank of Canada increased its position in shares of Raytheon Technologies by 37.3% during the 1st quarter. Royal Bank of Canada now owns 5,558,194 shares of the company’s stock worth $429,482,000 after purchasing an additional 1,510,309 shares during the last quarter. Hedge funds and other institutional investors own 78.21% of the company’s stock.

Shares of NYSE RTX opened at $83.39 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.17 and a quick ratio of 0.90. The stock’s fifty day moving average price is $85.36 and its two-hundred day moving average price is $83.54. Raytheon Technologies Co. has a one year low of $51.92 and a one year high of $89.98. The firm has a market cap of $125.74 billion, a price-to-earnings ratio of 57.91, a P/E/G ratio of 1.56 and a beta of 1.45.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings data on Monday, July 26th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The firm had revenue of $15.88 billion for the quarter, compared to analyst estimates of $15.83 billion. Raytheon Technologies had a return on equity of 6.80% and a net margin of 3.51%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. On average, equities analysts anticipate that Raytheon Technologies Co. will post 4.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Friday, August 20th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.45%. Raytheon Technologies’s payout ratio is 74.73%.

In related news, Director Robert Kelly Ortberg sold 60,000 shares of the company’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $85.10, for a total transaction of $5,106,000.00. Following the completion of the sale, the director now directly owns 101,704 shares in the company, valued at approximately $8,655,010.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Wesley D. Kremer sold 5,512 shares of the company’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $86.82, for a total value of $478,551.84. Following the sale, the insider now owns 73,519 shares of the company’s stock, valued at $6,382,919.58. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Several research firms have weighed in on RTX. Jefferies Financial Group boosted their price target on Raytheon Technologies from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, June 3rd. Argus raised Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Thursday, July 29th. Morgan Stanley boosted their price target on Raytheon Technologies from $97.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 11th. Benchmark reissued a “hold” rating on shares of Raytheon Technologies in a report on Wednesday, August 25th. Finally, Susquehanna Bancshares boosted their target price on Raytheon Technologies from $97.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $97.77.

Raytheon Technologies Company Profile

Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems, Pratt and Whitney, Raytheon Intelligence and Space, and Raytheon Missiles and Defense.

Featured Story: What is a Fibonacci Channel?

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

Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.