Raytheon Technologies Co. (NYSE:RTX) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,777 shares of the company’s stock after selling 11,878 shares during the period. State of Alaska Department of Revenue’s holdings in Raytheon Technologies were worth $20,767,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RTX. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Raytheon Technologies by 94.5% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after acquiring an additional 156,550 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Raytheon Technologies by 9.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after acquiring an additional 931 shares in the last quarter. Ironwood Wealth Management LLC. lifted its stake in Raytheon Technologies by 1.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after acquiring an additional 128 shares in the last quarter. AMI Investment Management Inc. lifted its stake in Raytheon Technologies by 53.1% during the 1st quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock worth $3,517,000 after acquiring an additional 12,316 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Raytheon Technologies by 1.4% during the 1st quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 3,622 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $98.55, for a total transaction of $356,948.10. Following the transaction, the vice president now owns 4,061 shares in the company, valued at approximately $400,211.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RTX shares. JPMorgan Chase & Co. increased their price target on Raytheon Technologies from $102.00 to $107.00 and gave the company an “overweight” rating in a research report on Monday, December 12th. Morgan Stanley reduced their price target on Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, January 19th. Citigroup increased their price target on Raytheon Technologies from $104.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. The Goldman Sachs Group lowered Raytheon Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $115.00 to $105.00 in a research report on Friday, January 13th. Finally, Wells Fargo & Company increased their price target on Raytheon Technologies from $96.00 to $107.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 25th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.17.

Raytheon Technologies Stock Down 2.4 %

Shares of RTX traded down $2.33 during mid-day trading on Friday, reaching $95.75. The company’s stock had a trading volume of 8,157,775 shares, compared to its average volume of 4,636,083. Raytheon Technologies Co. has a 12-month low of $80.27 and a 12-month high of $108.84. The stock has a market cap of $140.10 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.09 and a quick ratio of 0.81. The company’s 50 day moving average is $98.62 and its 200 day moving average is $94.54.

Raytheon Technologies (NYSE:RTX – Get Rating) last released its quarterly earnings results on Tuesday, January 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The firm had revenue of $18.09 billion for the quarter, compared to the consensus estimate of $18.16 billion. Raytheon Technologies had a return on equity of 9.73% and a net margin of 7.75%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Equities analysts anticipate that Raytheon Technologies Co. will post 5 EPS for the current fiscal year.

Raytheon Technologies declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 12th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Raytheon Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Friday, February 24th will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, February 23rd. This represents a $2.20 dividend on an annualized basis and a yield of 2.30%. Raytheon Technologies’s dividend payout ratio is presently 62.86%.

Raytheon Technologies Company Profile

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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).