Advisory Alpha LLC Acquires Shares of 5,844 Raytheon Technologies Co. (NYSE:RTX)

Advisory Alpha LLC purchased a new position in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,844 shares of the company’s stock, valued at approximately $503,000.

Several other hedge funds have also modified their holdings of the business. Capital Research Global Investors boosted its holdings in shares of Raytheon Technologies by 8.8% in the 3rd quarter. Capital Research Global Investors now owns 52,573,531 shares of the company’s stock valued at $4,519,225,000 after purchasing an additional 4,232,223 shares in the last quarter. Morgan Stanley lifted its stake in shares of Raytheon Technologies by 1.3% in the 3rd quarter. Morgan Stanley now owns 24,162,676 shares of the company’s stock valued at $2,077,023,000 after acquiring an additional 301,445 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Raytheon Technologies by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,219,880 shares of the company’s stock valued at $1,989,971,000 after acquiring an additional 350,578 shares during the last quarter. Invesco Ltd. lifted 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. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Raytheon Technologies by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,905,182 shares of the company’s stock valued at $937,410,000 after acquiring an additional 1,057,728 shares during the last quarter. 78.57% of the stock is currently owned by hedge funds and other institutional investors.

RTX stock traded up $0.57 during midday trading on Monday, hitting $104.84. The company’s stock had a trading volume of 86,004 shares, compared to its average volume of 6,390,546. The stock has a market cap of $156.24 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 2.14 and a beta of 1.24. The company has a quick ratio of 0.93, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $98.46 and its 200 day moving average price is $91.71. Raytheon Technologies Co. has a 1 year low of $76.07 and a 1 year high of $104.98.

Raytheon Technologies (NYSE:RTXGet Rating) last issued its quarterly earnings results on Tuesday, January 25th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. Raytheon Technologies had a return on equity of 8.78% and a net margin of 6.00%. The firm had revenue of $17.04 billion for the quarter, compared to analysts’ expectations of $17.28 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Raytheon Technologies Co. will post 4.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Friday, February 25th were given a dividend of $0.51 per share. The ex-dividend date was Thursday, February 24th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.95%. Raytheon Technologies’s dividend payout ratio is presently 79.38%.

RTX has been the subject of several analyst reports. Royal Bank of Canada initiated coverage on Raytheon Technologies in a research report on Friday, April 8th. They set an “outperform” rating and a $125.00 target price for the company. Morgan Stanley raised their target price on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. Wolfe Research increased their price target on Raytheon Technologies from $110.00 to $111.00 and gave the stock an “outperform” rating in a report on Wednesday, February 16th. StockNews.com started coverage on Raytheon Technologies in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Wells Fargo & Company decreased their price target on Raytheon Technologies from $97.00 to $96.00 and set an “equal weight” rating for the company in a report on Wednesday, January 26th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $105.36.

In other Raytheon Technologies news, Director Tracy A. Atkinson sold 5,340 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael R. Dumais sold 7,443 shares of the company’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $101.45, for a total value 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 worth $3,344,416 in the last three months. 0.11% of the stock is currently owned by insiders.

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.

Further Reading

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

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