Argent Trust Co Acquires 3,152 Shares of Raytheon Technologies Co. (NYSE:RTX)

Argent Trust Co grew its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 4.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,392 shares of the company’s stock after buying an additional 3,152 shares during the quarter. Argent Trust Co’s holdings in Raytheon Technologies were worth $5,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Security National Bank of Sioux City Iowa IA grew its stake in shares of Raytheon Technologies by 10.6% during the first quarter. Security National Bank of Sioux City Iowa IA now owns 13,873 shares of the company’s stock valued at $1,072,000 after buying an additional 1,325 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Raytheon Technologies by 22.2% during the first quarter. CIBC Private Wealth Group LLC now owns 4,549,599 shares of the company’s stock valued at $351,547,000 after buying an additional 825,250 shares during the last quarter. Sprucegrove Investment Management Ltd. grew its stake in shares of Raytheon Technologies by 15.5% during the first quarter. Sprucegrove Investment Management Ltd. now owns 1,060,400 shares of the company’s stock valued at $81,937,000 after buying an additional 142,300 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Raytheon Technologies by 19.0% during the first quarter. Ritholtz Wealth Management now owns 8,594 shares of the company’s stock valued at $664,000 after buying an additional 1,375 shares during the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in shares of Raytheon Technologies during the first quarter valued at approximately $206,000. 78.40% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on the company. Credit Suisse Group increased their price objective on Raytheon Technologies from $94.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 19th. Wells Fargo & Company assumed coverage on Raytheon Technologies in a research note on Tuesday, May 18th. They issued an “equal weight” rating and a $87.00 price objective on the stock. Jefferies Financial Group increased their price objective on Raytheon Technologies from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, June 3rd. Wolfe Research assumed coverage on Raytheon Technologies in a research note on Friday, April 9th. They issued an “outperform” rating and a $97.00 price objective on the stock. Finally, Zacks Investment Research cut Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a research note on Friday, April 30th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $90.33.

Raytheon Technologies stock traded up $0.24 during mid-day trading on Friday, reaching $88.49. 67,949 shares of the company were exchanged, compared to its average volume of 6,997,235. Raytheon Technologies Co. has a 12-month low of $51.92 and a 12-month high of $89.98. The firm’s fifty day moving average is $83.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.17. The firm has a market cap of $134.07 billion, a price-to-earnings ratio of -49.30, a P/E/G ratio of 1.65 and a beta of 1.46.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings data on Monday, April 26th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. Raytheon Technologies had a positive return on equity of 5.54% and a negative net margin of 4.44%. The firm had revenue of $15.25 billion during the quarter, compared to analyst estimates of $15.27 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was up 34.3% compared to the same quarter last year. As a group, equities research analysts predict that Raytheon Technologies Co. will post 3.71 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Friday, May 21st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Thursday, May 20th. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.48. Raytheon Technologies’s dividend payout ratio is currently 74.73%.

In other news, EVP Frank R. Jimenez sold 19,713 shares of the stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $82.47, for a total transaction of $1,625,731.11. Following the completion of the sale, the executive vice president now owns 62,221 shares in the company, valued at approximately $5,131,365.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Frank R. Jimenez sold 1,400 shares of the stock in a transaction on Friday, May 21st. The shares were sold at an average price of $85.97, for a total value of $120,358.00. Following the sale, the executive vice president now owns 74,374 shares of the company’s stock, valued at approximately $6,393,932.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,665 shares of company stock valued at $2,138,790. Company insiders own 0.11% of the company’s stock.

About Raytheon Technologies

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

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