Stanley Laman Group Ltd. boosted its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 35.7% in the 4th quarter, HoldingsChannel reports. The fund owned 35,504 shares of the company’s stock after acquiring an additional 9,336 shares during the period. Stanley Laman Group Ltd.’s holdings in Raytheon Technologies were worth $2,539,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RTX. LGL Partners LLC lifted its position in shares of Raytheon Technologies by 1.9% during the 4th quarter. LGL Partners LLC now owns 8,062 shares of the company’s stock worth $576,000 after buying an additional 147 shares during the last quarter. JJJ Advisors Inc. lifted its position in shares of Raytheon Technologies by 52.5% during the 4th quarter. JJJ Advisors Inc. now owns 453 shares of the company’s stock worth $32,000 after buying an additional 156 shares during the last quarter. TAP Consulting LLC lifted its position in shares of Raytheon Technologies by 4.1% during the 4th quarter. TAP Consulting LLC now owns 4,155 shares of the company’s stock worth $297,000 after buying an additional 163 shares during the last quarter. Bristlecone Advisors LLC lifted its position in shares of Raytheon Technologies by 0.6% during the 4th quarter. Bristlecone Advisors LLC now owns 27,137 shares of the company’s stock worth $1,941,000 after buying an additional 165 shares during the last quarter. Finally, Abbrea Capital LLC raised its position in Raytheon Technologies by 0.6% in the 4th quarter. Abbrea Capital LLC now owns 29,135 shares of the company’s stock valued at $2,083,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 75.09% of the company’s stock.
Several analysts recently commented on RTX shares. Zacks Investment Research upgraded shares of Raytheon Technologies from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a research report on Friday, January 29th. Credit Suisse Group reduced their price target on shares of Raytheon Technologies from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. DZ Bank upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Thursday, December 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Raytheon Technologies from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 15th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $77.22.
Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings results on Monday, January 25th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The business had revenue of $16.42 billion for the quarter, compared to analysts’ expectations of $16.07 billion. During the same period in the prior year, the company posted $1.16 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts expect that Raytheon Technologies Co. will post 3.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 25th. Investors of record on Friday, February 26th will be paid a $0.475 dividend. The ex-dividend date is Thursday, February 25th. This represents a $1.90 dividend on an annualized basis and a yield of 2.60%. Raytheon Technologies’s payout ratio is 23.00%.
Raytheon Technologies announced that its Board of Directors has approved a share buyback plan on Monday, December 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Raytheon Technologies Company Profile
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Technologies Co. (NYSE:RTX).
Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.