Stonehearth Capital Management LLC Takes $1.12 Million Position in Raytheon Technologies Co. (NYSE:RTX)

Stonehearth Capital Management LLC acquired a new position in Raytheon Technologies Co. (NYSE:RTXGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,257 shares of the company’s stock, valued at approximately $1,115,000. Raytheon Technologies makes up about 0.6% of Stonehearth Capital Management LLC’s investment portfolio, making the stock its 26th biggest position.

Several other hedge funds have also made changes to their positions in the company. Redpoint Investment Management Pty Ltd lifted its position in shares of Raytheon Technologies by 5.1% in the first quarter. Redpoint Investment Management Pty Ltd now owns 30,269 shares of the company’s stock worth $2,999,000 after purchasing an additional 1,476 shares in the last quarter. Winthrop Advisory Group LLC raised its position in Raytheon Technologies by 15.7% during the first quarter. Winthrop Advisory Group LLC now owns 3,466 shares of the company’s stock worth $343,000 after acquiring an additional 471 shares in the last quarter. Ellenbecker Investment Group bought a new stake in Raytheon Technologies during the first quarter worth $206,000. LVM Capital Management Ltd. MI raised its position in Raytheon Technologies by 8.9% during the first quarter. LVM Capital Management Ltd. MI now owns 8,369 shares of the company’s stock worth $829,000 after acquiring an additional 682 shares in the last quarter. Finally, Guinness Asset Management LTD raised its position in Raytheon Technologies by 3.9% during the first quarter. Guinness Asset Management LTD now owns 800,766 shares of the company’s stock worth $79,343,000 after acquiring an additional 30,142 shares in the last quarter. 79.56% of the stock is currently owned by institutional investors and hedge funds.

RTX has been the topic of several analyst reports. Cowen upped their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Argus upped their price target on shares of Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. StockNews.com raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. Cowen increased their price objective on shares of Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Finally, Barclays increased their price objective on shares of Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Thursday, March 10th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.91.

Raytheon Technologies stock traded down $0.18 during trading hours on Thursday, reaching $92.38. 22,326 shares of the stock were exchanged, compared to its average volume of 4,336,877. The company has a market cap of $137.39 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.18. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. Raytheon Technologies Co. has a twelve month low of $79.00 and a twelve month high of $106.02. The stock has a 50 day moving average of $95.60 and a two-hundred day moving average of $94.01.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $15.72 billion for the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a net margin of 6.47% and a return on equity of 9.24%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. On average, analysts expect that Raytheon Technologies Co. will post 4.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be issued a $0.55 dividend. The ex-dividend date is Thursday, August 18th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.38%. Raytheon Technologies’s dividend payout ratio (DPR) is currently 78.85%.

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

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