Raytheon Technologies Co. (NYSE:RTX) Holdings Decreased by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its stake in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 256,688 shares of the company’s stock after selling 1,567 shares during the quarter. Raytheon Technologies comprises about 0.8% of FineMark National Bank & Trust’s investment portfolio, making the stock its 23rd largest holding. FineMark National Bank & Trust’s holdings in Raytheon Technologies were worth $22,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Shore Point Advisors LLC bought a new stake in Raytheon Technologies in the fourth quarter worth about $25,000. Arcadia Investment Management Corp MI bought a new stake in Raytheon Technologies in the fourth quarter worth about $37,000. Bellwether Advisors LLC raised its position in Raytheon Technologies by 72.0% in the third quarter. Bellwether Advisors LLC now owns 466 shares of the company’s stock worth $40,000 after acquiring an additional 195 shares in the last quarter. Bell Investment Advisors Inc bought a new stake in Raytheon Technologies in the third quarter worth about $43,000. Finally, Masso Torrence Wealth Management Inc. bought a new stake in Raytheon Technologies in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 79.56% of the company’s stock.

In other news, EVP Michael R. Dumais sold 6,883 shares of the firm’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $97.74, for a total transaction of $672,744.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael R. Dumais sold 7,443 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $101.45, for a total transaction of $755,092.35. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

RTX stock traded down $0.17 during midday trading on Friday, reaching $90.08. The company had a trading volume of 6,554,564 shares, compared to its average volume of 5,999,962. Raytheon Technologies Co. has a 1 year low of $79.00 and a 1 year high of $106.02. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $133.97 billion, a P/E ratio of 32.29, a PEG ratio of 1.80 and a beta of 1.19. The company has a 50 day moving average of $98.28 and a two-hundred day moving average of $92.82.

Raytheon Technologies (NYSE:RTXGet Rating) last released 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 net margin of 6.47% and a return on equity of 9.24%. The company had revenue of $15.72 billion during the quarter, compared to the consensus estimate of $15.83 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Raytheon Technologies Co. will post 4.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Friday, May 20th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.44%. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.51. Raytheon Technologies’s dividend payout ratio (DPR) is currently 78.85%.

RTX has been the topic of several research reports. Cowen boosted their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Morgan Stanley boosted their price target on shares of Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. Wolfe Research upped their price objective on shares of Raytheon Technologies from $110.00 to $111.00 and gave the company an “outperform” rating in a research note on Wednesday, February 16th. StockNews.com upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Argus upped their price target on shares of Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $111.33.

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.

Further Reading

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

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