Alphastar Capital Management LLC raised its stake in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 105.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,338 shares of the company’s stock after acquiring an additional 3,758 shares during the period. Alphastar Capital Management LLC’s holdings in Raytheon Technologies were worth $677,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Key Financial Inc raised its holdings in Raytheon Technologies by 4.2% in the 3rd quarter. Key Financial Inc now owns 2,851 shares of the company’s stock valued at $245,000 after acquiring an additional 114 shares in the last quarter. Sargent Bickham Lagudis LLC increased its stake in shares of Raytheon Technologies by 4.8% in the 3rd quarter. Sargent Bickham Lagudis LLC now owns 2,491 shares of the company’s stock valued at $214,000 after purchasing an additional 114 shares during the last quarter. Essex LLC increased its stake in shares of Raytheon Technologies by 0.4% in the 4th quarter. Essex LLC now owns 32,084 shares of the company’s stock valued at $2,761,000 after purchasing an additional 114 shares during the last quarter. Fort Point Capital Partners LLC increased its stake in shares of Raytheon Technologies by 3.6% in the 3rd quarter. Fort Point Capital Partners LLC now owns 3,345 shares of the company’s stock valued at $288,000 after purchasing an additional 116 shares during the last quarter. Finally, Griffin Asset Management Inc. increased its stake in shares of Raytheon Technologies by 0.5% in the 4th quarter. Griffin Asset Management Inc. now owns 24,783 shares of the company’s stock valued at $2,133,000 after purchasing an additional 120 shares during the last quarter. 78.57% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Wesley D. Kremer sold 15,083 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $93.92, for a total transaction of $1,416,595.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tracy A. Atkinson sold 5,340 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $93.63, for a total value of $499,984.20. The disclosure for this sale can be found here. Insiders sold a total of 34,749 shares of company stock worth $3,344,416 over the last three months. 0.11% of the stock is owned by company insiders.
Raytheon Technologies (NYSE:RTX – Get Rating) last announced its quarterly earnings data on Tuesday, January 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $17.04 billion for the quarter, compared to the consensus estimate of $17.28 billion. Raytheon Technologies had a return on equity of 8.78% and a net margin of 6.00%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. On average, sell-side analysts predict that Raytheon Technologies Co. will post 4.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Friday, February 25th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, February 24th. Raytheon Technologies’s dividend payout ratio is 79.38%.
Several equities analysts have recently issued reports on the company. Wolfe Research lifted their price target on Raytheon Technologies from $110.00 to $111.00 and gave the company an “outperform” rating in a research note on Wednesday, February 16th. Barclays lifted their price target on Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday, March 10th. StockNews.com began coverage on Raytheon Technologies in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Royal Bank of Canada began coverage on Raytheon Technologies in a research report on Friday, April 8th. They set an “outperform” rating and a $125.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $105.36.
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.
- Get a free copy of the StockNews.com research report on Raytheon Technologies (RTX)
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