Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV reduced its holdings in Raytheon Technologies Co. (NYSE:RTX) by 3.5% during the 1st quarter, Holdings Channel reports. The fund owned 8,938 shares of the company’s stock after selling 321 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Raytheon Technologies were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Security National Bank of Sioux City Iowa IA increased its position in Raytheon Technologies by 10.6% in the 1st 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 acquiring an additional 1,325 shares during the period. CIBC Private Wealth Group LLC increased its position in Raytheon Technologies by 22.2% in the 1st quarter. CIBC Private Wealth Group LLC now owns 4,549,599 shares of the company’s stock valued at $351,547,000 after acquiring an additional 825,250 shares during the period. Sprucegrove Investment Management Ltd. increased its position in Raytheon Technologies by 15.5% in the 1st quarter. Sprucegrove Investment Management Ltd. now owns 1,060,400 shares of the company’s stock valued at $81,937,000 after acquiring an additional 142,300 shares during the period. Ritholtz Wealth Management boosted its stake in Raytheon Technologies by 19.0% during the 1st quarter. Ritholtz Wealth Management now owns 8,594 shares of the company’s stock valued at $664,000 after purchasing an additional 1,375 shares in the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in Raytheon Technologies during the 1st quarter valued at $206,000. Hedge funds and other institutional investors own 78.40% of the company’s stock.

In related 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 directly owns 62,221 shares in the company, valued at $5,131,365.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Frank R. Jimenez sold 1,400 shares of the firm’s stock in a transaction dated Friday, May 21st. The shares were sold at an average price of $85.97, for a total value of $120,358.00. Following the transaction, the executive vice president now owns 74,374 shares in the company, valued at $6,393,932.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,665 shares of company stock valued at $2,138,790. 0.11% of the stock is owned by corporate insiders.

Shares of Raytheon Technologies stock traded up $0.35 during midday trading on Friday, hitting $88.60. The company’s stock had a trading volume of 64,679 shares, compared to its average volume of 6,997,235. The stock has a market cap of $134.24 billion, a price-to-earnings ratio of -49.30, a P/E/G ratio of 1.65 and a beta of 1.46. The company’s 50-day simple moving average is $83.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.17 and a quick ratio of 0.91. Raytheon Technologies Co. has a 1-year low of $51.92 and a 1-year high of $89.98.

Raytheon Technologies (NYSE:RTX) last issued its earnings results on Monday, April 26th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The business had revenue of $15.25 billion during the quarter, compared to analysts’ expectations of $15.27 billion. Raytheon Technologies had a positive return on equity of 5.54% and a negative net margin of 4.44%. Raytheon Technologies’s revenue was up 34.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. On average, analysts forecast that Raytheon Technologies Co. will post 3.71 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Investors 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 2.30%. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, May 20th. Raytheon Technologies’s dividend payout ratio (DPR) is currently 74.73%.

RTX has been the subject of a number of research reports. Susquehanna increased their price target on Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a research note on Wednesday, April 28th. Wells Fargo & Company initiated coverage on Raytheon Technologies in a research note on Tuesday, May 18th. They set an “equal weight” rating and a $87.00 price target for the company. Zacks Investment Research lowered Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 price target for the company. in a research note on Friday, April 30th. LADENBURG THALM/SH SH raised Raytheon Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, May 3rd. Finally, Credit Suisse Group raised 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. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Raytheon Technologies presently has an average rating of “Buy” and an average target price of $90.33.

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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