Kovitz Investment Group Partners LLC lifted its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,922 shares of the company’s stock after buying an additional 1,141 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Raytheon Technologies were worth $744,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Harvest Group Wealth Management LLC increased its position in shares of Raytheon Technologies by 77.6% during the second 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. Mizuho Securities Co. Ltd. purchased a new stake in shares of Raytheon Technologies during the third quarter worth approximately $29,000. Northwest Investment Counselors LLC purchased a new stake in shares of Raytheon Technologies during the third quarter worth approximately $30,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Raytheon Technologies during the second quarter worth approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Raytheon Technologies during the second quarter worth approximately $31,000. 74.47% of the stock is owned by institutional investors and hedge funds.
NYSE RTX opened at $69.76 on Friday. The stock has a market cap of $105.95 billion, a PE ratio of 8.45, a P/E/G ratio of 1.79 and a beta of 1.23. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45. Raytheon Technologies Co. has a twelve month low of $40.72 and a twelve month high of $93.47. The stock has a fifty day simple moving average of $60.83 and a 200-day simple moving average of $61.35.
Raytheon Technologies (NYSE:RTX) last posted its earnings results on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The firm had revenue of $15.05 billion for the quarter, compared to analyst estimates of $15.16 billion. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. Raytheon Technologies’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. Research analysts predict that Raytheon Technologies Co. will post 2.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, November 13th will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.90 dividend on an annualized basis and a yield of 2.72%. Raytheon Technologies’s dividend payout ratio is presently 23.00%.
Several analysts recently commented on RTX shares. ValuEngine upgraded Raytheon Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Credit Suisse Group dropped their price target on Raytheon Technologies from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Argus cut Raytheon Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group upgraded Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a report on Sunday, September 20th. Finally, JPMorgan Chase & Co. upgraded Raytheon Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $66.00 to $79.00 in a report on Tuesday, November 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $86.47.
In other news, Chairman Thomas A. Kennedy purchased 19,059 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were purchased at an average price of $52.47 per share, for a total transaction of $1,000,025.73. Following the purchase, the chairman now directly owns 362,541 shares of the company’s stock, valued at approximately $19,022,526.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dinesh C. Paliwal purchased 9,532 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were purchased at an average price of $52.41 per share, for a total transaction of $499,572.12. Following the purchase, the director now directly owns 7,860 shares in the company, valued at $411,942.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 84,591 shares of company stock worth $4,567,268 in the last 90 days. 0.18% of the stock is currently owned by company insiders.
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 in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
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