Financial Advocates Investment Management Acquires 2,481 Shares of Raytheon Technologies Co. (NYSE:RTX)

Financial Advocates Investment Management raised its holdings in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 30.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,671 shares of the company’s stock after buying an additional 2,481 shares during the quarter. Financial Advocates Investment Management’s holdings in Raytheon Technologies were worth $1,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Win Advisors Inc. boosted its stake in shares of Raytheon Technologies by 50.0% in the 2nd quarter. Win Advisors Inc. now owns 375 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. Syverson Strege & Co boosted its stake in shares of Raytheon Technologies by 59.7% in the 2nd quarter. Syverson Strege & Co now owns 428 shares of the company’s stock valued at $41,000 after purchasing an additional 160 shares in the last quarter. Rational Advisors LLC boosted its stake in shares of Raytheon Technologies by 56.5% in the 1st quarter. Rational Advisors LLC now owns 435 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares in the last quarter. Roble Belko & Company Inc boosted its stake in shares of Raytheon Technologies by 111.5% in the 1st quarter. Roble Belko & Company Inc now owns 442 shares of the company’s stock valued at $44,000 after purchasing an additional 233 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its position in Raytheon Technologies by 852.0% during the 1st quarter. Simon Quick Advisors LLC now owns 476 shares of the company’s stock worth $47,000 after buying an additional 426 shares in the last quarter. Institutional investors own 79.89% of the company’s stock.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 3,343 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $95.53, for a total transaction of $319,356.79. Following the completion of the sale, the insider now directly owns 24,176 shares of the company’s stock, valued at approximately $2,309,533.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Raytheon Technologies news, COO Christopher T. Calio sold 1,697 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $94.26, for a total transaction of $159,959.22. Following the completion of the transaction, the chief operating officer now owns 44,562 shares of the company’s stock, valued at approximately $4,200,414.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 3,343 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $95.53, for a total value of $319,356.79. Following the transaction, the insider now directly owns 24,176 shares of the company’s stock, valued at approximately $2,309,533.28. The disclosure for this sale can be found here. In the last three months, insiders sold 6,246 shares of company stock valued at $590,280. 0.11% of the stock is owned by corporate insiders.

Raytheon Technologies Stock Performance

Shares of RTX stock opened at $97.13 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 0.82. The stock has a market cap of $142.79 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.07. The stock has a 50-day moving average of $88.98 and a 200-day moving average of $91.44. Raytheon Technologies Co. has a one year low of $79.00 and a one year high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10. The company had revenue of $16.95 billion during the quarter, compared to analysts’ expectations of $17.25 billion. Raytheon Technologies had a return on equity of 9.36% and a net margin of 6.76%. Raytheon Technologies’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. As a group, sell-side analysts expect that Raytheon Technologies Co. will post 4.76 earnings per share for the current year.

Raytheon Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 18th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.20 dividend on an annualized basis and a yield of 2.27%. Raytheon Technologies’s payout ratio is 73.33%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RTX shares. Wolfe Research started coverage on shares of Raytheon Technologies in a research report on Monday, October 10th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their price target on shares of Raytheon Technologies from $98.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 26th. Vertical Research reduced their price target on shares of Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Credit Suisse Group reduced their price target on shares of Raytheon Technologies from $85.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 26th. Finally, StockNews.com raised Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Raytheon Technologies has an average rating of “Moderate Buy” and an average target price of $108.73.

Raytheon Technologies Company Profile

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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.

Further Reading

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

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