Sageworth Trust Co Takes $220,000 Position in Raytheon Technologies Co. (NYSE:RTX)

Sageworth Trust Co purchased a new stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,560 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Shore Point Advisors LLC purchased a new position in shares of Raytheon Technologies in the fourth quarter worth approximately $25,000. Arcadia Investment Management Corp MI purchased a new stake in Raytheon Technologies during the fourth quarter valued at approximately $37,000. Bellwether Advisors LLC raised its position in Raytheon Technologies by 72.0% in the third quarter. Bellwether Advisors LLC now owns 466 shares of the company’s stock worth $40,000 after acquiring an additional 195 shares during the period. Bell Investment Advisors Inc bought a new stake in shares of Raytheon Technologies during the 3rd quarter valued at $43,000. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in shares of Raytheon Technologies in the 4th quarter worth $47,000. 79.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have commented on the company. Morgan Stanley upped their price target on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. Royal Bank of Canada assumed coverage on shares of Raytheon Technologies in a report on Friday, April 8th. They issued an “outperform” rating and a $125.00 target price for the company. Barclays lifted their price target on shares of Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, March 10th. StockNews.com cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Robert W. Baird lifted their target price on shares of Raytheon Technologies from $100.00 to $106.00 in a research note on Wednesday, January 26th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Raytheon Technologies presently has a consensus rating of “Buy” and an average target price of $110.08.

In related news, Director Tracy A. Atkinson sold 5,340 shares of Raytheon Technologies stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $93.63, for a total value of $499,984.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wesley D. Kremer sold 15,083 shares of Raytheon Technologies stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $93.92, for a total value of $1,416,595.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,749 shares of company stock valued at $3,344,416. Company insiders own 0.11% of the company’s stock.

Shares of Raytheon Technologies stock traded down $0.06 during trading on Tuesday, reaching $91.69. 7,524,015 shares of the stock traded hands, compared to its average volume of 6,359,306. The company has a market capitalization of $136.36 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 1.90 and a beta of 1.19. The business has a fifty day simple moving average of $99.26 and a two-hundred day simple moving average of $92.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 0.88. Raytheon Technologies Co. has a 52-week low of $79.00 and a 52-week high of $106.02.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $15.72 billion during the quarter, compared to analyst estimates of $15.83 billion. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. On average, research analysts predict that Raytheon Technologies Co. will post 4.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Friday, May 20th will be given a dividend of $0.55 per share. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.51. 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 2.40%. 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.

Featured Stories