Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,973 shares of the company’s stock after purchasing an additional 4,548 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Raytheon Technologies were worth $5,484,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in RTX. Evolution Wealth Advisors LLC lifted its position in shares of Raytheon Technologies by 88.1% during the first quarter. Evolution Wealth Advisors LLC now owns 348 shares of the company’s stock worth $27,000 after purchasing an additional 163 shares during the last quarter. Harbour Investments Inc. bought a new stake in shares of Raytheon Technologies during the first quarter worth $28,000. IronBridge Private Wealth LLC bought a new stake in shares of Raytheon Technologies in the fourth quarter valued at about $29,000. Disciplined Investments LLC raised its holdings in shares of Raytheon Technologies by 136.9% in the first quarter. Disciplined Investments LLC now owns 372 shares of the company’s stock valued at $29,000 after acquiring an additional 215 shares in the last quarter. Finally, Annapolis Financial Services LLC bought a new stake in shares of Raytheon Technologies in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 78.40% of the company’s stock.
Several analysts recently weighed in on the company. Credit Suisse Group lifted their price objective on Raytheon Technologies from $94.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, May 19th. Jefferies Financial Group lifted their price objective on Raytheon Technologies from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, June 3rd. Susquehanna Bancshares lifted their price objective on Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a report on Wednesday, April 28th. Redburn Partners began coverage on Raytheon Technologies in a report on Thursday, May 13th. They issued a “buy” rating for the company. Finally, Morgan Stanley boosted their target price on shares of Raytheon Technologies from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Raytheon Technologies has an average rating of “Buy” and a consensus price target of $90.33.
Shares of RTX stock opened at $86.85 on Friday. Raytheon Technologies Co. has a fifty-two week low of $51.92 and a fifty-two week high of $89.98. The stock has a market capitalization of $131.59 billion, a price-to-earnings ratio of -48.52, a price-to-earnings-growth ratio of 1.68 and a beta of 1.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.17 and a quick ratio of 0.91. The business’s 50-day simple moving average is $85.40.
Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings results on Monday, April 26th. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. Raytheon Technologies had a positive return on equity of 5.54% and a negative net margin of 4.44%. The business had revenue of $15.25 billion for the quarter, compared to analyst estimates of $15.27 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The company’s revenue was up 34.3% on a year-over-year basis. As a group, equities analysts expect that Raytheon Technologies Co. will post 3.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 9th. Investors of record on Friday, August 20th will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, August 19th. This represents a $2.04 dividend on an annualized basis and a yield of 2.35%. Raytheon Technologies’s dividend payout ratio is currently 74.73%.
Raytheon Technologies Profile
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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