Gateway Investment Advisers LLC bought a new position in Raytheon Technologies Corp (NYSE:RTX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 845,812 shares of the company’s stock, valued at approximately $52,119,000. Gateway Investment Advisers LLC owned about 0.10% of Raytheon Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in RTX. TFG Advisers LLC purchased a new position in Raytheon Technologies in the fourth quarter worth about $25,000. Sailer Financial LLC purchased a new position in shares of Raytheon Technologies during the 4th quarter valued at about $31,000. Larson Financial Group LLC lifted its position in shares of Raytheon Technologies by 159.3% during the 1st quarter. Larson Financial Group LLC now owns 280 shares of the company’s stock valued at $37,000 after buying an additional 172 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Raytheon Technologies during the 2nd quarter valued at about $37,000. Finally, Front Row Advisors LLC purchased a new position in shares of Raytheon Technologies during the 1st quarter valued at about $38,000. 78.95% of the stock is currently owned by institutional investors and hedge funds.
RTX has been the topic of a number of analyst reports. Cowen lifted their price objective on Raytheon Technologies from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Vertical Research raised Raytheon Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $52.00 to $77.00 in a research note on Friday, July 10th. ValuEngine raised Raytheon Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Barclays reissued a “buy” rating and set a $70.00 target price on shares of Raytheon Technologies in a research note on Thursday, April 9th. Finally, Citigroup decreased their target price on Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $95.94.
Shares of NYSE RTX traded up $2.23 during trading hours on Wednesday, hitting $62.70. 2,500,455 shares of the company traded hands, compared to its average volume of 12,649,917. The stock has a market capitalization of $51.66 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.58 and a beta of 1.27. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08. The company’s 50 day moving average price is $64.19 and its 200 day moving average price is $124.84. Raytheon Technologies Corp has a 12 month low of $40.72 and a 12 month high of $93.47.
Raytheon Technologies (NYSE:RTX) last released its earnings results on Thursday, May 7th. The company reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.67. The firm had revenue of $18.21 billion for the quarter, compared to the consensus estimate of $17.03 billion. Raytheon Technologies had a return on equity of 16.36% and a net margin of 5.34%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 EPS. Equities analysts anticipate that Raytheon Technologies Corp will post 3.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, August 13th. Raytheon Technologies’s dividend payout ratio is currently 23.00%.
About Raytheon Technologies
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for 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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