First Command Financial Services Inc. bought a new stake in Raytheon Technologies Corp (NYSE:RTX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,502 shares of the company’s stock, valued at approximately $1,449,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of RTX. TFG Advisers LLC acquired a new position in shares of Raytheon Technologies during the fourth quarter worth $25,000. Sailer Financial LLC bought a new stake in Raytheon Technologies during the 4th quarter worth $31,000. Larson Financial Group LLC increased its holdings in Raytheon Technologies by 159.3% in the 1st quarter. Larson Financial Group LLC now owns 280 shares of the company’s stock worth $37,000 after purchasing an additional 172 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Raytheon Technologies in the second quarter valued at about $37,000. Finally, Front Row Advisors LLC bought a new position in Raytheon Technologies in the first quarter valued at about $38,000. 78.95% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on RTX. Cfra lowered their price objective on Raytheon Technologies from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Jefferies Financial Group dropped their price target on shares of Raytheon Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, May 11th. ValuEngine upgraded shares of Raytheon Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Citigroup decreased their price objective on Raytheon Technologies from $85.52 to $70.00 and set a “neutral” rating for the company in a report on Thursday, June 25th. Finally, Vertical Research raised Raytheon Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $52.00 to $77.00 in a research report on Friday, July 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Raytheon Technologies presently has a consensus rating of “Buy” and an average target price of $95.94.
Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.11 by $0.67. The company had revenue of $18.21 billion during the quarter, compared to the consensus estimate of $17.03 billion. Raytheon Technologies had a net margin of 5.34% and a return on equity of 16.36%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $1.91 EPS. As a group, equities analysts expect that Raytheon Technologies Corp will post 3.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, August 13th. Raytheon Technologies’s payout ratio is 23.00%.
Raytheon Technologies Company Profile
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for 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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