Moody National Bank Trust Division Has $2.58 Million Stock Holdings in Raytheon Technologies Co. (NYSE:RTX)

Moody National Bank Trust Division trimmed its position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,562 shares of the company’s stock after selling 1,184 shares during the quarter. Moody National Bank Trust Division’s holdings in Raytheon Technologies were worth $2,580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Capital World Investors grew its holdings in Raytheon Technologies by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after buying an additional 2,256,475 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Raytheon Technologies in the 3rd quarter valued at $103,133,000. Arrowstreet Capital Limited Partnership increased its stake in Raytheon Technologies by 137.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,110,424 shares of the company’s stock worth $209,080,000 after acquiring an additional 1,220,826 shares during the period. Vanguard Group Inc. raised its holdings in Raytheon Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock valued at $10,083,098,000 after acquiring an additional 760,968 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Raytheon Technologies during the 3rd quarter valued at $55,322,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Raytheon Technologies Trading Down 2.4 %

Shares of NYSE:RTX traded down $2.33 during midday trading on Friday, hitting $95.75. 8,157,775 shares of the stock were exchanged, compared to its average volume of 4,933,511. The business’s 50-day moving average price is $98.62 and its 200 day moving average price is $94.52. Raytheon Technologies Co. has a 12 month low of $80.27 and a 12 month high of $108.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market capitalization of $140.10 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 2.36 and a beta of 1.00.

Raytheon Technologies (NYSE:RTX – Get Rating) last posted its earnings results on Tuesday, January 24th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The firm had revenue of $18.09 billion for the quarter, compared to analyst estimates of $18.16 billion. Raytheon Technologies had a net margin of 7.75% and a return on equity of 9.73%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. Analysts predict that Raytheon Technologies Co. will post 5 earnings per share for the current year.

Raytheon Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.30%. The ex-dividend date is Thursday, February 23rd. Raytheon Technologies’s payout ratio is presently 62.86%.

Raytheon Technologies declared that its board has approved a share buyback program on Monday, December 12th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Raytheon Technologies from $102.00 to $107.00 and gave the stock an “overweight” rating in a research report on Monday, December 12th. The Goldman Sachs Group lowered shares of Raytheon Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $115.00 to $105.00 in a research report on Friday, January 13th. StockNews.com initiated coverage on shares of Raytheon Technologies in a research report on Thursday. They set a “buy” rating for the company. Credit Suisse Group raised their target price on Raytheon Technologies from $103.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 25th. Finally, Citigroup boosted their price target on Raytheon Technologies from $104.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Raytheon Technologies has a consensus rating of “Moderate Buy” and an average target price of $111.17.

Insider Activity

In related news, VP Amy L. Johnson sold 3,622 shares of Raytheon Technologies stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $98.55, for a total value of $356,948.10. Following the transaction, the vice president now directly owns 4,061 shares of the company’s stock, valued at $400,211.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

Raytheon Technologies Company Profile

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Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).