Eastover Investment Advisors LLC Makes New Investment in Raytheon Technologies Co. (NYSE:RTX)

Eastover Investment Advisors LLC purchased a new position in Raytheon Technologies Co. (NYSE:RTX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,329 shares of the company’s stock, valued at approximately $2,781,000. Raytheon Technologies makes up about 2.1% of Eastover Investment Advisors LLC’s portfolio, making the stock its 28th largest holding.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its stake in Raytheon Technologies by 18.1% in the third quarter. Larson Financial Group LLC now owns 1,294 shares of the company’s stock valued at $74,000 after acquiring an additional 198 shares in the last quarter. Harvest Group Wealth Management LLC increased its stake in Raytheon Technologies by 77.6% during the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock worth $28,000 after buying an additional 201 shares during the period. Ellis Investment Partners LLC grew its holdings in Raytheon Technologies by 2.4% during the 3rd quarter. Ellis Investment Partners LLC now owns 8,489 shares of the company’s stock worth $488,000 after acquiring an additional 203 shares in the last quarter. Jacobi Capital Management LLC acquired a new position in Raytheon Technologies during the 2nd quarter worth $761,000. Finally, Coastal Capital Group Inc. grew its holdings in Raytheon Technologies by 13.0% during the 3rd quarter. Coastal Capital Group Inc. now owns 2,368 shares of the company’s stock worth $136,000 after acquiring an additional 272 shares in the last quarter. Institutional investors and hedge funds own 74.47% of the company’s stock.

Several research analysts have weighed in on the stock. ValuEngine lowered shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 12th. Royal Bank of Canada decreased their price target on shares of Raytheon Technologies from $69.00 to $66.00 in a report on Friday, July 17th. Goldman Sachs Group raised shares of Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a report on Sunday, September 20th. Vertical Research raised 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 report on Friday, July 10th. Finally, Morgan Stanley started coverage on shares of Raytheon Technologies in a report on Tuesday, September 8th. They issued an “overweight” rating and a $89.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Raytheon Technologies presently has an average rating of “Buy” and a consensus price target of $93.83.

Shares of RTX stock traded up $0.16 during midday trading on Friday, reaching $62.96. 137,774 shares of the company were exchanged, compared to its average volume of 11,047,228. Raytheon Technologies Co. has a 12 month low of $40.72 and a 12 month high of $93.47. The company has a market cap of $95.94 billion, a P/E ratio of 7.60, a PEG ratio of 1.80 and a beta of 1.23. The company’s 50 day moving average price is $60.17 and its two-hundred day moving average price is $64.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 1.20.

Raytheon Technologies (NYSE:RTX) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.40 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 for the quarter, compared to the consensus estimate of $13.39 billion. Raytheon Technologies’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, sell-side analysts predict that Raytheon Technologies Co. will post 2.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, November 13th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.02%. Raytheon Technologies’s dividend payout ratio (DPR) is 23.00%.

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 in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

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

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