Congress Wealth Management LLC DE Invests $812,000 in Raytheon Technologies Co. (NYSE:RTX)

Congress Wealth Management LLC DE acquired a new position in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 9,433 shares of the company’s stock, valued at approximately $812,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Oak Asset Management LLC raised its stake in Raytheon Technologies by 5.3% during the 4th quarter. Oak Asset Management LLC now owns 72,267 shares of the company’s stock worth $6,219,000 after acquiring an additional 3,618 shares in the last quarter. Auxano Advisors LLC raised its stake in Raytheon Technologies by 6.6% during the 4th quarter. Auxano Advisors LLC now owns 6,814 shares of the company’s stock worth $586,000 after acquiring an additional 422 shares in the last quarter. TBH Global Asset Management LLC raised its stake in Raytheon Technologies by 8.7% during the 4th quarter. TBH Global Asset Management LLC now owns 7,463 shares of the company’s stock worth $642,000 after acquiring an additional 600 shares in the last quarter. Atria Investments LLC raised its stake in Raytheon Technologies by 2.5% during the 4th quarter. Atria Investments LLC now owns 88,640 shares of the company’s stock worth $7,628,000 after acquiring an additional 2,203 shares in the last quarter. Finally, Frontier Wealth Management LLC raised its stake in Raytheon Technologies by 60.0% during the 4th quarter. Frontier Wealth Management LLC now owns 51,857 shares of the company’s stock worth $4,463,000 after acquiring an additional 19,443 shares in the last quarter. 78.57% of the stock is owned by institutional investors and hedge funds.

In other Raytheon Technologies news, insider Wesley D. Kremer sold 15,083 shares of the firm’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $93.92, for a total transaction of $1,416,595.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael R. Dumais sold 7,443 shares of Raytheon Technologies stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $101.45, for a total transaction 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 over the last quarter. 0.11% of the stock is currently owned by insiders.

Several brokerages recently commented on RTX. Wells Fargo & Company cut their price target on shares of Raytheon Technologies from $97.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 26th. Wolfe Research lifted their price target on shares of Raytheon Technologies from $110.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 16th. Royal Bank of Canada assumed coverage on shares of Raytheon Technologies in a research note on Friday, April 8th. They issued an “outperform” rating and a $125.00 price objective on the stock. Barclays lifted their price objective on shares of Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday, March 10th. Finally, Robert W. Baird lifted their price objective on shares of Raytheon Technologies from $100.00 to $106.00 in a research note on Wednesday, January 26th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $105.36.

Shares of NYSE RTX traded up $0.01 on Monday, hitting $104.28. The company’s stock had a trading volume of 42,866 shares, compared to its average volume of 6,390,546. The stock has a 50 day moving average of $98.46 and a 200-day moving average of $91.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 0.93. The company has a market capitalization of $155.41 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. Raytheon Technologies Co. has a 12-month low of $76.07 and a 12-month high of $104.98.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings results on Tuesday, January 25th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.01 by $0.07. Raytheon Technologies had a net margin of 6.00% and a return on equity of 8.78%. The firm had revenue of $17.04 billion during the quarter, compared to analyst estimates of $17.28 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. Raytheon Technologies’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts expect that Raytheon Technologies Co. will post 4.79 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Friday, February 25th were paid a $0.51 dividend. The ex-dividend date was Thursday, February 24th. This represents a $2.04 annualized dividend and a dividend yield of 1.96%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 79.38%.

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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