Midwest Professional Planners LTD. Has $1.96 Million Position in Raytheon Technologies Co. (NYSE:RTX)

Midwest Professional Planners LTD. increased its stake in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,390 shares of the company’s stock after purchasing an additional 477 shares during the quarter. Raytheon Technologies makes up 1.1% of Midwest Professional Planners LTD.’s investment portfolio, making the stock its 21st largest holding. Midwest Professional Planners LTD.’s holdings in Raytheon Technologies were worth $1,960,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in shares of Raytheon Technologies by 94.5% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after buying an additional 156,550 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Raytheon Technologies by 9.2% during the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after buying an additional 931 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of Raytheon Technologies by 1.2% during the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after buying an additional 128 shares during the last quarter. Independent Advisor Alliance lifted its holdings in shares of Raytheon Technologies by 6.8% during the first quarter. Independent Advisor Alliance now owns 44,521 shares of the company’s stock worth $4,411,000 after buying an additional 2,829 shares during the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in shares of Raytheon Technologies during the first quarter worth approximately $95,000. 79.89% of the stock is currently owned by institutional investors and hedge funds.

Raytheon Technologies Stock Performance

Shares of NYSE:RTX opened at $99.08 on Thursday. The business’s fifty day moving average price is $90.23 and its two-hundred day moving average price is $91.65. Raytheon Technologies Co. has a fifty-two week low of $79.00 and a fifty-two week high of $106.02. The stock has a market capitalization of $145.65 billion, a price-to-earnings ratio of 32.91, a price-to-earnings-growth ratio of 2.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 0.82.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10. Raytheon Technologies had a return on equity of 9.36% and a net margin of 6.76%. The firm had revenue of $16.95 billion for the quarter, compared to analysts’ expectations of $17.25 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts predict that Raytheon Technologies Co. will post 4.76 EPS for the current fiscal year.

Raytheon Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, November 17th. Raytheon Technologies’s payout ratio is presently 73.33%.

Insider Transactions at Raytheon Technologies

In other news, EVP Dantaya M. Williams sold 1,206 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $92.01, for a total transaction of $110,964.06. Following the sale, the executive vice president now owns 10,596 shares in the company, valued at $974,937.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Christopher T. Calio sold 1,697 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $94.26, for a total transaction of $159,959.22. Following the sale, the chief operating officer now owns 44,562 shares in the company, valued at $4,200,414.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 1,206 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $92.01, for a total value of $110,964.06. Following the transaction, the executive vice president now directly owns 10,596 shares in the company, valued at approximately $974,937.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,246 shares of company stock worth $590,280. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RTX. Morgan Stanley cut their price target on Raytheon Technologies from $124.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Robert W. Baird lowered their price objective on Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Royal Bank of Canada lowered their price objective on Raytheon Technologies from $107.00 to $102.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. StockNews.com upgraded Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, October 20th. Finally, Wolfe Research assumed coverage on Raytheon Technologies in a research report on Monday, October 10th. They set a “peer perform” rating on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $108.73.

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.

See Also

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

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