ARS Investment Partners LLC Sells 1,909 Shares of Raytheon Technologies Co. (NYSE:RTX)

ARS Investment Partners LLC trimmed its holdings in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 368,830 shares of the company’s stock after selling 1,909 shares during the quarter. Raytheon Technologies comprises 2.9% of ARS Investment Partners LLC’s portfolio, making the stock its 9th biggest holding. ARS Investment Partners LLC’s holdings in Raytheon Technologies were worth $31,742,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Capital Research Global Investors raised its holdings in Raytheon Technologies by 8.8% during the 3rd quarter. Capital Research Global Investors now owns 52,573,531 shares of the company’s stock worth $4,519,225,000 after purchasing an additional 4,232,223 shares during the last quarter. Invesco Ltd. increased its stake in shares of Raytheon Technologies by 13.7% in the 3rd quarter. Invesco Ltd. now owns 17,788,165 shares of the company’s stock valued at $1,529,070,000 after acquiring an additional 2,149,110 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of Raytheon Technologies by 332.7% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,595,475 shares of the company’s stock valued at $137,147,000 after acquiring an additional 1,226,786 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Raytheon Technologies by 24.6% in the 4th quarter. American Century Companies Inc. now owns 5,541,113 shares of the company’s stock valued at $476,868,000 after acquiring an additional 1,092,932 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Raytheon Technologies by 4.6% in the 2nd quarter. Morgan Stanley now owns 23,861,231 shares of the company’s stock valued at $2,035,603,000 after acquiring an additional 1,050,028 shares during the last quarter. 79.56% of the stock is owned by institutional investors and hedge funds.

RTX stock traded down $1.80 during trading on Thursday, hitting $90.25. 5,164,809 shares of the company’s stock traded hands, compared to its average volume of 6,301,808. The firm has a market capitalization of $134.22 billion, a P/E ratio of 32.49, a PEG ratio of 1.84 and a beta of 1.19. The business has a fifty day simple moving average of $98.55 and a two-hundred day simple moving average of $92.77. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. 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 released its quarterly earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.14. Raytheon Technologies had a net margin of 6.47% and a return on equity of 9.24%. The business had revenue of $15.72 billion for the quarter, compared to analyst estimates of $15.83 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Raytheon Technologies Co. will post 4.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Friday, May 20th will be paid a dividend of $0.55 per share. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, May 19th. Raytheon Technologies’s payout ratio is presently 73.12%.

In other news, EVP Michael R. Dumais sold 7,443 shares of Raytheon Technologies stock in a transaction on Monday, February 28th. The shares were sold at an average price of $101.45, for a total transaction of $755,092.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tracy A. Atkinson sold 5,340 shares of the business’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $93.63, for a total transaction of $499,984.20. The disclosure for this sale can be found here. Insiders have sold 19,666 shares of company stock valued at $1,927,821 over the last quarter. Insiders own 0.11% of the company’s stock.

RTX has been the subject of several research analyst reports. Royal Bank of Canada assumed coverage on Raytheon Technologies in a research report on Friday, April 8th. They issued an “outperform” rating and a $125.00 price objective for the company. Morgan Stanley increased their target price on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Argus raised their price objective on Raytheon Technologies from $100.00 to $112.00 in a research note on Wednesday, April 27th. Wolfe Research raised their price objective on Raytheon Technologies from $110.00 to $111.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 16th. Finally, StockNews.com upgraded Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $110.08.

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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