Raytheon Technologies Co. (NYSE:RTX) Stake Increased by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co raised its holdings in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,504 shares of the company’s stock after acquiring an additional 159 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Raytheon Technologies were worth $354,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GoalVest Advisory LLC grew its holdings in shares of Raytheon Technologies by 219.8% during the 4th quarter. GoalVest Advisory LLC now owns 291 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in Raytheon Technologies during the third quarter valued at $25,000. SJS Investment Consulting Inc. purchased a new position in Raytheon Technologies in the third quarter valued at about $26,000. McClarren Financial Advisors Inc. acquired a new position in Raytheon Technologies in the 3rd quarter worth about $25,000. Finally, Coston McIsaac & Partners purchased a new stake in shares of Raytheon Technologies during the 2nd quarter worth about $31,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Amy L. Johnson sold 3,622 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 4,061 shares in the company, valued at $400,211.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by company insiders.

Raytheon Technologies Stock Performance

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

Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.03. Raytheon Technologies had a return on equity of 9.73% and a net margin of 7.75%. The company had revenue of $18.09 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the prior year, the business earned $1.08 earnings per share. Raytheon Technologies’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Raytheon Technologies Co. will post 5 earnings per share for the current fiscal year.

Raytheon Technologies announced that its board has authorized a share repurchase plan on Monday, December 12th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Raytheon Technologies Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on RTX. The Goldman Sachs Group downgraded Raytheon Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $115.00 to $105.00 in a report on Friday, January 13th. Citigroup raised their price target on shares of Raytheon Technologies from $104.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. JPMorgan Chase & Co. lifted their price objective on shares of Raytheon Technologies from $102.00 to $107.00 and gave the company an “overweight” rating in a research note on Monday, December 12th. Wells Fargo & Company increased their target price on shares of Raytheon Technologies from $96.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 25th. Finally, StockNews.com began coverage on Raytheon Technologies in a research report on Thursday. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Raytheon Technologies has an average rating of “Moderate Buy” and an average target price of $111.17.

About Raytheon Technologies

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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).