Jennison Associates LLC Boosts Stake in Raytheon Technologies Co. (NYSE:RTX)

Jennison Associates LLC lifted its position in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 15.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,472,108 shares of the company’s stock after acquiring an additional 192,134 shares during the quarter. Jennison Associates LLC’s holdings in Raytheon Technologies were worth $126,690,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bellwether Advisors LLC boosted its stake in shares of Raytheon Technologies by 72.0% during the 3rd quarter. Bellwether Advisors LLC now owns 466 shares of the company’s stock worth $40,000 after acquiring an additional 195 shares in the last quarter. Bell Investment Advisors Inc purchased a new position in Raytheon Technologies in the 3rd quarter valued at about $43,000. Level Financial Advisors Inc. purchased a new position in Raytheon Technologies in the 4th quarter valued at about $56,000. Annapolis Financial Services LLC lifted its stake in Raytheon Technologies by 60.8% in the 3rd quarter. Annapolis Financial Services LLC now owns 669 shares of the company’s stock valued at $58,000 after buying an additional 253 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Raytheon Technologies in the 4th quarter valued at about $59,000. 78.57% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on the stock. Cowen raised their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday. Cowen raised their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday. Royal Bank of Canada started coverage on shares of Raytheon Technologies in a research note on Friday, April 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Morgan Stanley increased their price objective on shares of Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, March 2nd. Finally, Robert W. Baird increased their price objective on shares of Raytheon Technologies from $100.00 to $106.00 in a report on Wednesday, January 26th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Raytheon Technologies presently has an average rating of “Buy” and an average price target of $107.94.

In other Raytheon Technologies news, insider Wesley D. Kremer sold 15,083 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $93.92, for a total value of $1,416,595.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael R. Dumais sold 7,443 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $101.45, for a total transaction of $755,092.35. The disclosure for this sale can be found here. Insiders have sold a total of 34,749 shares of company stock valued at $3,344,416 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

Shares of NYSE:RTX traded down $3.17 during mid-day trading on Friday, reaching $94.91. 5,882,973 shares of the company were exchanged, compared to its average volume of 4,794,727. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 0.93. The firm has a market cap of $141.44 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 2.04 and a beta of 1.24. The firm’s 50-day simple moving average is $99.69 and its 200 day simple moving average is $92.47. Raytheon Technologies Co. has a 1 year low of $79.00 and a 1 year high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.14. The firm had revenue of $15.72 billion during the quarter, compared to analysts’ expectations of $15.83 billion. Raytheon Technologies had a net margin of 6.47% and a return on equity of 9.24%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. On average, research analysts forecast that Raytheon Technologies Co. will post 4.77 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Friday, May 20th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Raytheon Technologies’s previous quarterly dividend of $0.51. Raytheon Technologies’s dividend payout ratio (DPR) is presently 73.12%.

About Raytheon Technologies (Get Rating)

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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Institutional Ownership by Quarter for Raytheon Technologies (NYSE:RTX)

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