Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Cypress Capital LLC

Cypress Capital LLC lessened its holdings in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 7.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,514 shares of the company’s stock after selling 1,623 shares during the quarter. Cypress Capital LLC’s holdings in Raytheon Technologies were worth $2,131,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RTX. Norges Bank acquired a new stake in shares of Raytheon Technologies during the fourth quarter worth about $1,277,246,000. Capital Research Global Investors lifted its position in shares of Raytheon Technologies by 13.4% during the fourth quarter. Capital Research Global Investors now owns 59,603,906 shares of the company’s stock worth $5,129,511,000 after purchasing an additional 7,030,375 shares in the last quarter. Capital World Investors lifted its position in shares of Raytheon Technologies by 48.5% during the fourth quarter. Capital World Investors now owns 6,874,082 shares of the company’s stock worth $591,583,000 after purchasing an additional 2,244,470 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Raytheon Technologies by 33.1% during the fourth quarter. Alliancebernstein L.P. now owns 8,879,745 shares of the company’s stock worth $764,191,000 after purchasing an additional 2,210,486 shares in the last quarter. Finally, Eaton Vance Management acquired a new stake in shares of Raytheon Technologies during the fourth quarter worth about $162,515,000. Institutional investors and hedge funds own 79.56% of the company’s stock.

Raytheon Technologies Stock Performance

Shares of Raytheon Technologies stock opened at $93.03 on Friday. The firm has a market capitalization of $137.36 billion, a P/E ratio of 31.11, a P/E/G ratio of 1.90 and a beta of 1.04. Raytheon Technologies Co. has a 52 week low of $79.00 and a 52 week high of $106.02. The company has a quick ratio of 0.83, a current ratio of 1.10 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $93.78 and its two-hundred day moving average is $95.50.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $16.31 billion for the quarter, compared to analyst estimates of $16.61 billion. Raytheon Technologies had a net margin of 6.84% and a return on equity of 9.48%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. Research analysts forecast that Raytheon Technologies Co. will post 4.68 EPS for the current fiscal year.

Raytheon Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, August 18th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.36%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 73.58%.

Analyst Ratings Changes

RTX has been the topic of several analyst reports. Royal Bank of Canada initiated coverage on shares of Raytheon Technologies in a report on Friday, April 8th. They issued an “outperform” rating and a $125.00 target price on the stock. Cowen raised their target price on shares of Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Cowen raised their target price on shares of Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Vertical Research reduced their target price on shares of Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, StockNews.com raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.10.

About Raytheon Technologies

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

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