Argent Capital Management LLC decreased its holdings in Raytheon Technologies Co. (NYSE:RTX) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,660 shares of the company’s stock after selling 438 shares during the period. Argent Capital Management LLC’s holdings in Raytheon Technologies were worth $515,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of RTX. Windsor Group LTD bought a new stake in shares of Raytheon Technologies during the 1st quarter valued at $224,000. German American Bancorp Inc. raised its position in shares of Raytheon Technologies by 8.3% in the first quarter. German American Bancorp Inc. now owns 24,418 shares of the company’s stock worth $1,887,000 after buying an additional 1,861 shares in the last quarter. Sciencast Management LP boosted its stake in Raytheon Technologies by 21.8% during the first quarter. Sciencast Management LP now owns 21,050 shares of the company’s stock valued at $1,620,000 after buying an additional 3,765 shares during the period. Front Barnett Associates LLC grew its position in Raytheon Technologies by 12.3% during the first quarter. Front Barnett Associates LLC now owns 210,370 shares of the company’s stock worth $16,255,000 after buying an additional 23,035 shares in the last quarter. Finally, Disciplined Investments LLC increased its stake in Raytheon Technologies by 136.9% in the 1st quarter. Disciplined Investments LLC now owns 372 shares of the company’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. 78.40% of the stock is currently owned by institutional investors.
RTX has been the subject of several research analyst reports. Redburn Partners assumed coverage on shares of Raytheon Technologies in a research report on Thursday, May 13th. They set a “buy” rating for the company. Wells Fargo & Company initiated coverage on shares of Raytheon Technologies in a research report on Tuesday, May 18th. They issued an “equal weight” rating and a $87.00 target price for the company. Morgan Stanley raised their price target on Raytheon Technologies from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. Susquehanna upped their price objective on Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a report on Wednesday, April 28th. Finally, Susquehanna Bancshares raised their price objective on Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a report on Wednesday, April 28th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Raytheon Technologies has a consensus rating of “Buy” and a consensus target price of $90.33.
Raytheon Technologies (NYSE:RTX) last released its quarterly earnings results on Monday, April 26th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. Raytheon Technologies had a positive return on equity of 5.54% and a negative net margin of 4.44%. The business had revenue of $15.25 billion during the quarter, compared to analyst estimates of $15.27 billion. During the same quarter in the prior year, the company posted $1.78 EPS. Raytheon Technologies’s quarterly revenue was up 34.3% compared to the same quarter last year. As a group, equities research analysts expect that Raytheon Technologies Co. will post 3.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Friday, May 21st will be given a dividend of $0.51 per share. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, May 20th. Raytheon Technologies’s payout ratio is presently 74.73%.
In other news, EVP Frank R. Jimenez sold 19,713 shares of the firm’s stock in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $82.47, for a total value of $1,625,731.11. Following the completion of the transaction, the executive vice president now owns 62,221 shares in the company, valued at approximately $5,131,365.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Frank R. Jimenez sold 1,400 shares of Raytheon Technologies stock in a transaction that occurred on Friday, May 21st. The shares were sold at an average price of $85.97, for a total value of $120,358.00. Following the sale, the executive vice president now owns 74,374 shares in the company, valued at $6,393,932.78. The disclosure for this sale can be found here. Insiders sold a total of 25,665 shares of company stock valued at $2,138,790 over the last 90 days. Company insiders own 0.11% of the company’s stock.
Raytheon Technologies Company Profile
Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
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