Somerset Trust Co Acquires New Shares in Raytheon Technologies Corp (NYSE:RTX)

Somerset Trust Co acquired a new stake in Raytheon Technologies Corp (NYSE:RTX) in the second quarter, according to its most recent filing with the SEC. The fund acquired 32,936 shares of the company’s stock, valued at approximately $2,029,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. TFG Advisers LLC purchased a new position in shares of Raytheon Technologies during the 4th quarter valued at $25,000. Sailer Financial LLC purchased a new position in shares of Raytheon Technologies during the 4th quarter valued at $31,000. Larson Financial Group LLC grew its position in shares of Raytheon Technologies by 159.3% during the 1st quarter. Larson Financial Group LLC now owns 280 shares of the company’s stock valued at $37,000 after purchasing an additional 172 shares in the last quarter. Sowa Financial Group Inc. purchased a new position in shares of Raytheon Technologies during the 4th quarter valued at $70,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Raytheon Technologies during the 1st quarter valued at $38,000. Institutional investors and hedge funds own 78.95% of the company’s stock.

Raytheon Technologies stock traded down $0.30 during mid-day trading on Friday, hitting $62.07. The company’s stock had a trading volume of 50,487 shares, compared to its average volume of 9,207,028. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.23 and a quick ratio of 0.87. The stock has a market cap of $53.84 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.72 and a beta of 0.85. The business has a 50 day moving average price of $64.17 and a 200-day moving average price of $123.18. Raytheon Technologies Corp has a 12 month low of $40.72 and a 12 month high of $93.47.

Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.67. The business 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 firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.91 earnings per share. On average, equities research analysts expect that Raytheon Technologies Corp will post 3.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, August 13th. Raytheon Technologies’s dividend payout ratio is presently 23.00%.

A number of research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Raytheon Technologies in a research report on Thursday, April 9th. They set a “buy” rating and a $81.00 price target for the company. Sanford C. Bernstein assumed coverage on shares of Raytheon Technologies in a research report on Tuesday, April 7th. They set a “market perform” rating and a $62.00 price target for the company. Bank of America restated a “buy” rating and set a $95.00 price target on shares of Raytheon Technologies in a research report on Thursday, April 9th. Credit Suisse Group reduced their price target on shares of Raytheon Technologies from $101.45 to $81.00 and set an “outperform” rating for the company in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. downgraded shares of Raytheon Technologies from an “overweight” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Wednesday, April 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $95.94.

Raytheon Technologies 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.

Recommended Story: Stock Split

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

Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit