RB Capital Management LLC Raises Stake in Raytheon Technologies Co. (NYSE:RTX)

RB Capital Management LLC grew its stake in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 2.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,210 shares of the company’s stock after purchasing an additional 282 shares during the quarter. RB Capital Management LLC’s holdings in Raytheon Technologies were worth $1,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RTX. Arete Wealth Advisors LLC raised its holdings in shares of Raytheon Technologies by 9.1% in the fourth quarter. Arete Wealth Advisors LLC now owns 8,912 shares of the company’s stock valued at $775,000 after acquiring an additional 747 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Raytheon Technologies in the fourth quarter worth about $893,000. North Star Investment Management Corp. raised its holdings in Raytheon Technologies by 28.5% in the fourth quarter. North Star Investment Management Corp. now owns 5,304 shares of the company’s stock worth $456,000 after purchasing an additional 1,177 shares in the last quarter. First American Bank raised its holdings in Raytheon Technologies by 3.4% in the fourth quarter. First American Bank now owns 43,705 shares of the company’s stock worth $3,761,000 after purchasing an additional 1,431 shares in the last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in Raytheon Technologies in the fourth quarter worth about $385,000. 79.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RTX. StockNews.com upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Vertical Research dropped their target price on Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Argus upped their target price on Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Cowen upped their price objective on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Finally, Cowen upped their price objective on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.10.

Raytheon Technologies Price Performance

NYSE RTX traded up $0.17 during mid-day trading on Wednesday, hitting $95.22. The stock had a trading volume of 52,958 shares, compared to its average volume of 4,336,772. The firm’s 50 day moving average is $93.36 and its 200 day moving average is $95.77. Raytheon Technologies Co. has a twelve month low of $79.00 and a twelve month high of $106.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.10 and a quick ratio of 0.83. The stock has a market capitalization of $140.59 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 1.97 and a beta of 1.04.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. Raytheon Technologies had a return on equity of 9.48% and a net margin of 6.84%. The firm had revenue of $16.31 billion during the quarter, compared to the consensus estimate of $16.61 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Raytheon Technologies Co. will post 4.68 earnings per share for the current fiscal year.

Raytheon Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, August 18th. Raytheon Technologies’s dividend payout ratio is presently 73.58%.

Raytheon Technologies Company Profile

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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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