Community Bank N.A. Invests $2.17 Million in Raytheon Technologies Corp (NYSE:RTX)

Community Bank N.A. purchased a new position in Raytheon Technologies Corp (NYSE:RTX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,153 shares of the company’s stock, valued at approximately $2,165,000.

Other large investors have also bought and sold shares of the company. TFG Advisers LLC purchased a new position in shares of Raytheon Technologies in the fourth quarter worth about $25,000. Kessler Investment Group LLC acquired a new stake in Raytheon Technologies during the second quarter worth about $26,000. Financial Management Professionals Inc. acquired a new stake in Raytheon Technologies during the second quarter worth about $27,000. Larson Financial Group LLC increased its position in Raytheon Technologies by 159.3% during the first quarter. Larson Financial Group LLC now owns 280 shares of the company’s stock worth $37,000 after purchasing an additional 172 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Raytheon Technologies during the second quarter worth about $37,000. 78.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RTX stock traded down $0.78 during trading on Friday, reaching $56.68. The company’s stock had a trading volume of 11,445,378 shares, compared to its average volume of 8,218,439. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 0.87. The company has a market capitalization of $49.09 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 1.54 and a beta of 0.85. The stock’s 50-day moving average price is $62.31 and its 200 day moving average price is $110.62. Raytheon Technologies Corp has a 1-year low of $40.72 and a 1-year high of $93.47.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.30. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.39 billion. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Raytheon Technologies Corp will post 3.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a $0.475 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.90 dividend on an annualized basis and a yield of 3.35%. Raytheon Technologies’s dividend payout ratio is currently 23.00%.

Several research firms recently issued reports on RTX. UBS Group began 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. Argus cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America reiterated a “buy” rating and set a $95.00 price target on shares of Raytheon Technologies in a research report on Thursday, April 9th. Vertical Research upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $52.00 to $77.00 in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Raytheon Technologies from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $94.47.

About Raytheon Technologies

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.

Read More: Stock Market – What is a circuit breaker?

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Technologies Corp (NYSE:RTX).

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