Raytheon Technologies Co. (NYSE:RTX) Shares Sold by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC cut its holdings in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 21.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,638 shares of the company’s stock after selling 1,499 shares during the period. SignalPoint Asset Management LLC’s holdings in Raytheon Technologies were worth $559,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Qube Research & Technologies Ltd acquired a new position in shares of Raytheon Technologies in the 4th quarter valued at $4,794,000. Valmark Advisers Inc. boosted its holdings in Raytheon Technologies by 4.2% in the fourth quarter. Valmark Advisers Inc. now owns 11,751 shares of the company’s stock valued at $1,011,000 after purchasing an additional 474 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Raytheon Technologies by 15.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 141,646 shares of the company’s stock valued at $12,190,000 after purchasing an additional 18,990 shares during the last quarter. Investment Management of Virginia LLC boosted its holdings in Raytheon Technologies by 11.9% in the fourth quarter. Investment Management of Virginia LLC now owns 13,313 shares of the company’s stock valued at $1,146,000 after purchasing an additional 1,421 shares during the last quarter. Finally, Woodmont Investment Counsel LLC boosted its holdings in Raytheon Technologies by 1.8% in the fourth quarter. Woodmont Investment Counsel LLC now owns 13,644 shares of the company’s stock valued at $1,174,000 after purchasing an additional 241 shares during the last quarter. 79.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Argus upped their price target on shares of Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Cowen raised their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. StockNews.com raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada initiated coverage on shares of Raytheon Technologies in a research note on Friday, April 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Finally, Vertical Research cut their price objective on shares of Raytheon Technologies to $120.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.10.

Raytheon Technologies Trading Up 0.3 %

Shares of NYSE:RTX traded up $0.25 during mid-day trading on Friday, reaching $93.03. 3,320,349 shares of the company were exchanged, compared to its average volume of 4,587,316. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.10 and a quick ratio of 0.83. The firm has a market cap of $137.36 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 1.90 and a beta of 1.04. The firm’s 50-day simple moving average is $93.78 and its 200 day simple moving average is $95.50. Raytheon Technologies Co. has a 1 year low of $79.00 and a 1 year high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. Raytheon Technologies had a net margin of 6.84% and a return on equity of 9.48%. The company had revenue of $16.31 billion during the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter last year, the company posted $1.03 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Raytheon Technologies Co. will post 4.68 EPS for the current year.

Raytheon Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 19th will be given a $0.55 dividend. The ex-dividend date is Thursday, August 18th. This represents a $2.20 annualized dividend and a yield of 2.36%. Raytheon Technologies’s dividend payout ratio is presently 73.58%.

Raytheon Technologies Profile

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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.

See Also

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

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