Ellenbecker Investment Group bought a new stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,087 shares of the company’s stock, valued at approximately $206,000.
Other institutional investors have also made changes to their positions in the company. Garrett Investment Advisors LLC increased its position in shares of Raytheon Technologies by 6.6% during the 1st quarter. Garrett Investment Advisors LLC now owns 4,714 shares of the company’s stock valued at $467,000 after purchasing an additional 290 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Raytheon Technologies by 372.2% during the 4th quarter. NN Investment Partners Holdings N.V. now owns 305,841 shares of the company’s stock valued at $26,321,000 after purchasing an additional 241,070 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Raytheon Technologies by 26.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 112,464 shares of the company’s stock valued at $9,678,000 after purchasing an additional 23,852 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Raytheon Technologies during the 4th quarter valued at $72,853,000. Finally, Allied Investment Advisors LLC increased its position in shares of Raytheon Technologies by 2.1% during the 4th quarter. Allied Investment Advisors LLC now owns 79,851 shares of the company’s stock valued at $6,872,000 after purchasing an additional 1,664 shares during the last quarter. 79.56% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. Cowen raised their target price on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. StockNews.com raised Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. Barclays lifted their price objective on Raytheon Technologies from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Thursday, March 10th. Royal Bank of Canada assumed coverage on Raytheon Technologies in a report on Friday, April 8th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Cowen lifted their price objective on Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.91.
Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $15.72 billion during the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. Equities research analysts anticipate that Raytheon Technologies Co. will post 4.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.38%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 78.85%.
Raytheon Technologies Company Profile (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.
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