Ellenbecker Investment Group Takes Position in Raytheon Technologies Co. (NYSE:RTX)

Ellenbecker Investment Group acquired a new stake in Raytheon Technologies Co. (NYSE:RTX – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,087 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Garrett Investment Advisors LLC increased its position in Raytheon Technologies by 6.6% during the 1st quarter. Garrett Investment Advisors LLC now owns 4,714 shares of the company’s stock valued at $467,000 after purchasing an additional 290 shares during the period. NN Investment Partners Holdings N.V. increased its position in Raytheon Technologies by 372.2% during the 4th quarter. NN Investment Partners Holdings N.V. now owns 305,841 shares of the company’s stock valued at $26,321,000 after purchasing an additional 241,070 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Raytheon Technologies by 26.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 112,464 shares of the company’s stock valued at $9,678,000 after purchasing an additional 23,852 shares during the period. National Bank of Canada FI acquired a new stake in Raytheon Technologies during the 4th quarter valued at approximately $72,853,000. Finally, Allied Investment Advisors LLC increased its position in Raytheon Technologies by 2.1% during the 4th quarter. Allied Investment Advisors LLC now owns 79,851 shares of the company’s stock valued at $6,872,000 after purchasing an additional 1,664 shares during the period. 79.56% of the stock is owned by institutional investors.

Shares of RTX opened at $92.56 on Thursday. Raytheon Technologies Co. has a 12-month low of $79.00 and a 12-month high of $106.02. The business’s fifty day moving average is $95.60 and its 200 day moving average is $94.01. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The stock has a market cap of $137.66 billion, a P/E ratio of 33.18, a P/E/G ratio of 1.85 and a beta of 1.18.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The company had revenue of $15.72 billion for the quarter, compared to analysts’ expectations of $15.83 billion. During the same period last year, the business earned $0.90 EPS. Raytheon Technologies’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts expect that Raytheon Technologies Co. will post 4.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 19th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 18th. Raytheon Technologies’s dividend payout ratio (DPR) is presently 78.85%.

A number of analysts have weighed in on RTX shares. Argus increased their target price on shares of Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. StockNews.com raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. Royal Bank of Canada initiated coverage on Raytheon Technologies in a report on Friday, April 8th. They set an “outperform” rating and a $125.00 price target on the stock. Cowen increased their price target on Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Finally, Barclays increased their price target on Raytheon Technologies from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Thursday, March 10th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Raytheon Technologies presently has an average rating of “Moderate Buy” and an average price target of $111.91.

About Raytheon Technologies (Get Rating)

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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