Raytheon Technologies Co. (NYSE:RTX) Stock Position Raised by Lincoln National Corp

Lincoln National Corp lifted its position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 5.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,878 shares of the company’s stock after acquiring an additional 1,798 shares during the quarter. Lincoln National Corp’s holdings in Raytheon Technologies were worth $3,356,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new stake in Raytheon Technologies in the 4th quarter worth approximately $4,794,000. Valmark Advisers Inc. lifted its position in Raytheon Technologies by 4.2% in the 4th quarter. Valmark Advisers Inc. now owns 11,751 shares of the company’s stock worth $1,011,000 after buying an additional 474 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Raytheon Technologies by 15.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 141,646 shares of the company’s stock worth $12,190,000 after buying an additional 18,990 shares in the last quarter. Investment Management of Virginia LLC lifted its position in Raytheon Technologies by 11.9% in the 4th quarter. Investment Management of Virginia LLC now owns 13,313 shares of the company’s stock worth $1,146,000 after buying an additional 1,421 shares in the last quarter. Finally, Woodmont Investment Counsel LLC lifted its position in Raytheon Technologies by 1.8% in the 4th quarter. Woodmont Investment Counsel LLC now owns 13,644 shares of the company’s stock worth $1,174,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Argus increased their target price on shares of Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Vertical Research cut their price target on shares of Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Royal Bank of Canada started coverage on shares of Raytheon Technologies in a report on Friday, April 8th. They set an “outperform” rating and a $125.00 price target on the stock. StockNews.com upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Cowen raised their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.10.

Raytheon Technologies Stock Performance

NYSE:RTX opened at $93.03 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $137.36 billion, a PE ratio of 31.11, a PEG ratio of 1.90 and a beta of 1.04. The firm’s fifty day simple moving average is $93.78 and its 200 day simple moving average is $95.50. Raytheon Technologies Co. has a 1 year low of $79.00 and a 1 year high of $106.02.

Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.04. The company had revenue of $16.31 billion for the quarter, compared to analyst estimates of $16.61 billion. Raytheon Technologies had a net margin of 6.84% and a return on equity of 9.48%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. On average, sell-side analysts anticipate that Raytheon Technologies Co. will post 4.68 EPS for the current year.

Raytheon Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, August 18th. Raytheon Technologies’s payout ratio is 73.58%.

Raytheon Technologies Company Profile

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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.