Dividend Assets Capital LLC Sells 8,076 Shares of Raytheon Technologies Co. (NYSE:RTX)


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Dividend Assets Capital LLC cut its position in Raytheon Technologies Co. (NYSE:RTX) by 17.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 38,830 shares of the company’s stock after selling 8,076 shares during the period. Dividend Assets Capital LLC’s holdings in Raytheon Technologies were worth $3,000,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC boosted its position in Raytheon Technologies by 23.1% during the first quarter. Park Avenue Securities LLC now owns 8,386 shares of the company’s stock worth $648,000 after purchasing an additional 1,573 shares during the period. Lindbrook Capital LLC grew its position in Raytheon Technologies by 16.0% in the first quarter. Lindbrook Capital LLC now owns 5,534 shares of the company’s stock valued at $428,000 after acquiring an additional 765 shares during the last quarter. WASHINGTON TRUST Co grew its holdings in shares of Raytheon Technologies by 14.6% during the first quarter. WASHINGTON TRUST Co now owns 202,725 shares of the company’s stock worth $15,664,000 after purchasing an additional 25,775 shares during the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Raytheon Technologies by 19.4% during the first quarter. Legacy Financial Advisors Inc. now owns 7,779 shares of the company’s stock worth $601,000 after purchasing an additional 1,264 shares during the last quarter. Finally, Delta Asset Management LLC TN boosted its holdings in Raytheon Technologies by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 126,843 shares of the company’s stock valued at $9,801,000 after acquiring an additional 1,674 shares during the last quarter. 75.09% of the stock is owned by institutional investors and hedge funds.

NYSE:RTX traded down $0.25 during midday trading on Tuesday, hitting $83.89. The stock had a trading volume of 35,000 shares, compared to its average volume of 7,299,329. Raytheon Technologies Co. has a one year low of $51.13 and a one year high of $84.44. The company has a market capitalization of $127.10 billion, a price-to-earnings ratio of -72.53, a PEG ratio of 1.67 and a beta of 1.39. The stock has a 50-day moving average of $78.75 and a 200 day moving average of $71.64. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.45.

Raytheon Technologies (NYSE:RTX) last announced its earnings results on Monday, April 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. The business had revenue of $15.25 billion for the quarter, compared to analysts’ expectations of $15.27 billion. Raytheon Technologies had a positive return on equity of 8.35% and a negative net margin of 3.77%. The business’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. On average, sell-side analysts anticipate that Raytheon Technologies Co. will post 3.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Friday, May 21st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, May 20th. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.48. Raytheon Technologies’s dividend payout ratio is currently 23.00%.

In related news, EVP Frank R. Jimenez sold 19,713 shares of the firm’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $82.47, for a total value of $1,625,731.11. Following the completion of the transaction, the executive vice president now owns 62,221 shares in the company, valued at approximately $5,131,365.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

RTX has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised Raytheon Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Monday. Susquehanna Bancshares increased their price objective on Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a report on Wednesday, April 28th. Morgan Stanley increased their price objective on Raytheon Technologies from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Investment Research cut Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a report on Friday. Finally, Langenberg & Company raised Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.44.

About Raytheon Technologies

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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