Country Club Trust Company n.a. reduced its stake in Raytheon Technologies Co. (NYSE:RTX) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,284 shares of the company’s stock after selling 3,687 shares during the quarter. Country Club Trust Company n.a.’s holdings in Raytheon Technologies were worth $8,245,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Jacobi Capital Management LLC bought a new position in Raytheon Technologies in the 2nd quarter valued at approximately $761,000. Kessler Investment Group LLC bought a new position in shares of Raytheon Technologies during the 2nd quarter valued at $26,000. Financial Management Professionals Inc. bought a new position in shares of Raytheon Technologies during the 2nd quarter valued at $27,000. Harvest Group Wealth Management LLC lifted its holdings in shares of Raytheon Technologies by 77.6% during the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock valued at $28,000 after buying an additional 201 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Raytheon Technologies during the 2nd quarter valued at $31,000. 74.47% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on RTX. Goldman Sachs Group raised Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a report on Sunday, September 20th. JPMorgan Chase & Co. upped their price objective on Raytheon Technologies from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Royal Bank of Canada reduced their price objective on Raytheon Technologies from $69.00 to $66.00 in a research note on Friday, July 17th. Argus lowered Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Vertical Research upgraded Raytheon Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $77.00 in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $93.83.
Raytheon Technologies (NYSE:RTX) last issued its earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.30. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. Raytheon Technologies’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, sell-side analysts anticipate that Raytheon Technologies Co. will post 2.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, November 13th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, November 12th. Raytheon Technologies’s dividend payout ratio (DPR) is presently 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 in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
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