Fiera Capital Corp decreased its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 66.9% during the 1st quarter, HoldingsChannel reports. The fund owned 2,885 shares of the company’s stock after selling 5,827 shares during the period. Fiera Capital Corp’s holdings in Raytheon Technologies were worth $223,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Norges Bank acquired a new stake in shares of Raytheon Technologies during the 4th quarter valued at $1,089,275,000. Dodge & Cox lifted its holdings in Raytheon Technologies by 29.0% during the 4th quarter. Dodge & Cox now owns 39,109,917 shares of the company’s stock worth $2,796,750,000 after buying an additional 8,787,122 shares during the period. Assenagon Asset Management S.A. acquired a new position in Raytheon Technologies during the 1st quarter worth about $164,570,000. Toronto Dominion Bank lifted its holdings in Raytheon Technologies by 12,729.0% during the 4th quarter. Toronto Dominion Bank now owns 1,854,053 shares of the company’s stock worth $132,581,000 after buying an additional 1,839,601 shares during the period. Finally, Ninety One UK Ltd lifted its holdings in Raytheon Technologies by 157.7% during the 4th quarter. Ninety One UK Ltd now owns 2,828,770 shares of the company’s stock worth $202,285,000 after buying an additional 1,731,251 shares during the period. 78.40% of the stock is currently owned by institutional investors.
Shares of Raytheon Technologies stock opened at $88.25 on Friday. Raytheon Technologies Co. has a one year low of $51.92 and a one year high of $89.98. The company has a market cap of $133.71 billion, a price-to-earnings ratio of -49.30, a price-to-earnings-growth ratio of 1.65 and a beta of 1.46. The company has a 50-day moving average price of $83.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.17 and a quick ratio of 0.91.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Friday, May 21st will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.31%. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, May 20th. Raytheon Technologies’s payout ratio is presently 74.73%.
RTX has been the topic of several recent research reports. Langenberg & Company raised Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Monday, May 3rd. Jefferies Financial Group lifted their target price on Raytheon Technologies from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, June 3rd. Redburn Partners started coverage on Raytheon Technologies in a research report on Thursday, May 13th. They issued a “buy” rating for the company. Credit Suisse Group lifted their price objective on Raytheon Technologies from $94.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 19th. Finally, LADENBURG THALM/SH SH raised Raytheon Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, May 3rd. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $90.33.
In other Raytheon Technologies news, EVP Frank R. Jimenez sold 19,713 shares of the business’s stock in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $82.47, for a total transaction of $1,625,731.11. Following the completion of the sale, the executive vice president now directly owns 62,221 shares of the company’s stock, valued at approximately $5,131,365.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael R. Dumais sold 4,552 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $86.27, for a total value of $392,701.04. Following the sale, the executive vice president now directly owns 74,374 shares of the company’s stock, valued at $6,416,244.98. The disclosure for this sale can be found here. Insiders sold a total of 25,665 shares of company stock valued at $2,138,790 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.
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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