Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Regal Wealth Group Inc.

Regal Wealth Group Inc. cut its stake in Raytheon Technologies Co. (NYSE:RTX) by 9.1% in the third quarter, Holdings Channel reports. The firm owned 7,176 shares of the company’s stock after selling 722 shares during the period. Raytheon Technologies comprises 0.4% of Regal Wealth Group Inc.’s holdings, making the stock its 27th largest position. Regal Wealth Group Inc.’s holdings in Raytheon Technologies were worth $617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Man Group plc raised its position in Raytheon Technologies by 82.8% during the 1st quarter. Man Group plc now owns 25,195 shares of the company’s stock worth $1,947,000 after buying an additional 11,414 shares during the last quarter. Gladstone Institutional Advisory LLC raised its position in Raytheon Technologies by 122.1% during the 1st quarter. Gladstone Institutional Advisory LLC now owns 7,126 shares of the company’s stock worth $551,000 after buying an additional 3,918 shares during the last quarter. Axiom Investment Management LLC purchased a new position in Raytheon Technologies during the 1st quarter worth approximately $312,000. Stonnington Group LLC purchased a new position in Raytheon Technologies during the 1st quarter worth approximately $204,000. Finally, Childress Capital Advisors LLC purchased a new position in Raytheon Technologies during the 1st quarter worth approximately $270,000. Institutional investors own 78.62% of the company’s stock.

NYSE RTX traded down $0.12 on Thursday, hitting $87.19. The company had a trading volume of 3,464,747 shares, compared to its average volume of 5,885,341. The company has a market capitalization of $130.50 billion, a PE ratio of 39.63, a PEG ratio of 1.61 and a beta of 1.38. The company’s fifty day moving average price is $88.44 and its 200-day moving average price is $86.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 0.95. Raytheon Technologies Co. has a 12-month low of $65.02 and a 12-month high of $92.32.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings results on Monday, October 25th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.08 by $0.18. The company had revenue of $16.20 billion during the quarter, compared to analyst estimates of $16.36 billion. Raytheon Technologies had a net margin of 5.20% and a return on equity of 8.13%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, sell-side analysts anticipate that Raytheon Technologies Co. will post 4.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Friday, November 19th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, November 18th. This represents a $2.04 annualized dividend and a yield of 2.34%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 92.73%.

RTX has been the subject of a number of recent research reports. Benchmark reissued a “hold” rating on shares of Raytheon Technologies in a research report on Wednesday, August 25th. Susquehanna Bancshares lifted their target price on shares of Raytheon Technologies from $97.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Argus raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Thursday, July 29th. Susquehanna lifted their target price on shares of Raytheon Technologies from $97.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Finally, Wells Fargo & Company lifted their target price on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 27th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Raytheon Technologies currently has a consensus rating of “Buy” and an average price target of $98.54.

In other Raytheon Technologies news, EVP Michael R. Dumais sold 3,000 shares of Raytheon Technologies stock in a transaction on Friday, November 5th. The shares were sold at an average price of $90.54, for a total transaction of $271,620.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Raytheon Technologies 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.

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

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