Accurate Wealth Management LLC lifted its stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,393 shares of the company’s stock after buying an additional 290 shares during the quarter. Accurate Wealth Management LLC’s holdings in Raytheon Technologies were worth $539,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSC Wealth Advisors LLC acquired a new position in shares of Raytheon Technologies during the third quarter worth $25,000. McClarren Financial Advisors Inc. acquired a new position in Raytheon Technologies in the 3rd quarter worth $25,000. SJS Investment Consulting Inc. purchased a new position in Raytheon Technologies in the 3rd quarter valued at about $26,000. Private Ocean LLC grew its stake in shares of Raytheon Technologies by 65.3% during the third quarter. Private Ocean LLC now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares in the last quarter. Finally, GoalVest Advisory LLC increased its position in shares of Raytheon Technologies by 219.8% during the fourth quarter. GoalVest Advisory LLC now owns 291 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Raytheon Technologies
In other news, VP Amy L. Johnson sold 3,622 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $98.55, for a total transaction 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 legal filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by company insiders.
Analysts Set New Price Targets
Raytheon Technologies Stock Performance
Shares of NYSE:RTX traded down $2.33 during trading on Friday, hitting $95.75. 8,157,775 shares of the company traded hands, compared to its average volume of 4,933,511. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average is $98.62 and its 200-day moving average is $94.52. The stock has a market capitalization of $140.10 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.36 and a beta of 1.00. Raytheon Technologies Co. has a one year low of $80.27 and a one year high of $108.84.
Raytheon Technologies (NYSE:RTX – Get Rating) last issued its earnings results on Tuesday, January 24th. The company reported $1.27 earnings per share for the quarter, topping 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 firm had revenue of $18.09 billion for the quarter, compared to analyst estimates of $18.16 billion. During the same period last year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Raytheon Technologies Co. will post 5 earnings per share for the current fiscal year.
Raytheon Technologies declared that its Board of Directors has initiated a share buyback program on Monday, December 12th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
Raytheon Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.30%. The ex-dividend date is Thursday, February 23rd. Raytheon Technologies’s dividend payout ratio (DPR) is 62.86%.
About Raytheon Technologies
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).
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