Raytheon Technologies Co. (NYSE:RTX) Shares Acquired by Aevitas Wealth Management Inc.

Aevitas Wealth Management Inc. lifted its holdings in Raytheon Technologies Co. (NYSE:RTX) by 5.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,022 shares of the company’s stock after purchasing an additional 538 shares during the period. Aevitas Wealth Management Inc.’s holdings in Raytheon Technologies were worth $577,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kessler Investment Group LLC purchased a new position in Raytheon Technologies in the 2nd quarter valued at approximately $26,000. Financial Management Professionals Inc. purchased a new position in Raytheon Technologies in the second quarter valued at $27,000. Harvest Group Wealth Management LLC grew 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 purchasing an additional 201 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Raytheon Technologies during the 3rd quarter worth about $30,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Raytheon Technologies in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.

Shares of RTX traded down $0.23 during mid-day trading on Friday, reaching $62.57. 5,864,562 shares of the company’s stock were exchanged, compared to its average volume of 6,801,579. The business’s fifty day simple moving average is $60.19 and its 200-day simple moving average is $63.88. The stock has a market capitalization of $95.59 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 1.79 and a beta of 1.23. Raytheon Technologies Co. has a 52-week low of $40.72 and a 52-week high of $93.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.91.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.30. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. Equities research 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. Investors of record on Friday, November 13th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a 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%.

A number of research firms recently weighed in on RTX. 140166 upped their target price on shares of Raytheon Technologies from $66.00 to $74.00 in a research note on Friday, July 17th. Morgan Stanley initiated coverage on Raytheon Technologies in a research note on Tuesday, September 8th. They issued an “overweight” rating and a $89.00 price target on the stock. Royal Bank of Canada lowered their price objective on Raytheon Technologies from $69.00 to $66.00 in a research report on Friday, July 17th. Credit Suisse Group dropped their price objective on Raytheon Technologies from $81.00 to $75.00 and set an “outperform” rating on the stock in a report on Monday, October 12th. Finally, Argus cut Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $93.83.

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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