Davis Selected Advisers Sells 17,067 Shares of Raytheon Technologies Co. (NYSE:RTX)

Davis Selected Advisers cut its stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,483 shares of the company’s stock after selling 17,067 shares during the period. Davis Selected Advisers’ holdings in Raytheon Technologies were worth $14,581,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Kavar Capital Partners Group LLC bought a new stake in shares of Raytheon Technologies in the fourth quarter worth $221,000. Thompson Siegel & Walmsley LLC lifted its holdings in Raytheon Technologies by 43.9% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 126,825 shares of the company’s stock valued at $12,800,000 after buying an additional 38,680 shares during the period. Granite Investment Partners LLC lifted its holdings in Raytheon Technologies by 4.3% in the fourth quarter. Granite Investment Partners LLC now owns 29,311 shares of the company’s stock valued at $2,958,000 after buying an additional 1,206 shares during the period. Wade G W & Inc. lifted its holdings in Raytheon Technologies by 1.4% in the fourth quarter. Wade G W & Inc. now owns 204,198 shares of the company’s stock valued at $20,608,000 after buying an additional 2,743 shares during the period. Finally, Motco lifted its holdings in Raytheon Technologies by 7.7% in the fourth quarter. Motco now owns 42,521 shares of the company’s stock valued at $4,291,000 after buying an additional 3,052 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Raytheon Technologies in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Robert W. Baird upped their target price on shares of Raytheon Technologies from $106.00 to $115.00 in a report on Wednesday, April 26th. Wolfe Research raised shares of Raytheon Technologies from a “peer perform” rating to an “outperform” rating and set a $117.00 price objective for the company in a research report on Wednesday, April 12th. Jefferies Financial Group downgraded shares of Raytheon Technologies from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $110.00 in a research report on Thursday, April 20th. Finally, Citigroup increased their target price on shares of Raytheon Technologies from $106.00 to $113.50 in a research report on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Raytheon Technologies currently has an average rating of “Moderate Buy” and an average target price of $111.88.

Insider Activity at Raytheon Technologies

In related news, VP Amy L. Johnson sold 3,622 shares of Raytheon Technologies stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $98.55, for a total transaction of $356,948.10. Following the completion of the transaction, the vice president now directly owns 4,061 shares of the company’s stock, valued at approximately $400,211.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Raytheon Technologies Trading Up 0.2 %

Raytheon Technologies stock traded up $0.23 during trading hours on Friday, reaching $93.35. The stock had a trading volume of 1,951,773 shares, compared to its average volume of 4,406,206. The stock has a market cap of $136.40 billion, a PE ratio of 25.11, a PEG ratio of 2.25 and a beta of 0.99. Raytheon Technologies Co. has a 52 week low of $80.27 and a 52 week high of $108.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.85. The company has a fifty day simple moving average of $98.20 and a 200-day simple moving average of $98.38.

Raytheon Technologies (NYSE:RTX – Get Rating) last announced its earnings results on Tuesday, April 25th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. Raytheon Technologies had a net margin of 8.08% and a return on equity of 9.81%. The firm had revenue of $17.21 billion for the quarter, compared to analyst estimates of $16.98 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts forecast that Raytheon Technologies Co. will post 5.05 EPS for the current fiscal year.

Raytheon Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, May 19th will be given a dividend of $0.59 per share. This is a boost from Raytheon Technologies’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, May 18th. Raytheon Technologies’s dividend payout ratio (DPR) is 62.93%.

About Raytheon Technologies

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Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).