Hartford Financial Management Inc. grew its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,772 shares of the company’s stock after purchasing an additional 1,144 shares during the quarter. Hartford Financial Management Inc.’s holdings in Raytheon Technologies were worth $2,519,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in RTX. Kessler Investment Group LLC bought a new position in Raytheon Technologies during the 2nd quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new stake in shares of Raytheon Technologies in the 2nd quarter valued at $27,000. Harvest Group Wealth Management LLC increased its stake in shares of Raytheon Technologies by 77.6% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock valued at $28,000 after acquiring an additional 201 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Raytheon Technologies in the 2nd quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Raytheon Technologies in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.
RTX has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, June 25th. Morgan Stanley initiated coverage on shares of Raytheon Technologies in a research note on Tuesday, September 8th. They issued an “overweight” rating and a $89.00 price objective for the company. ValuEngine lowered shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 12th. 140166 lifted their price objective on shares of Raytheon Technologies from $66.00 to $74.00 in a research note on Friday, July 17th. Finally, Goldman Sachs Group raised shares of Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a research report on Sunday, September 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $93.83.
RTX traded up $1.26 during mid-day trading on Friday, reaching $61.75. 8,287,997 shares of the stock were exchanged, compared to its average volume of 11,141,345. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 1.20. The stock has a market capitalization of $94.33 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. The company has a 50 day moving average price of $60.19 and a two-hundred day moving average price of $65.02. Raytheon Technologies Co. has a 1 year low of $40.72 and a 1 year high of $93.47.
Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.30. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. Raytheon Technologies’s quarterly revenue was up 24.1% compared to the same quarter last year. Sell-side analysts expect that Raytheon Technologies Co. will post 3.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, November 12th. Raytheon Technologies’s payout ratio is 23.00%.
Raytheon Technologies Company Profile
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
Featured Article: Stock Symbols Definition, Examples, Lookup
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.