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.
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.
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