Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Canandaigua National Corp


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Canandaigua National Corp reduced its stake in Raytheon Technologies Co. (NYSE:RTX) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,752 shares of the company’s stock after selling 1,115 shares during the period. Canandaigua National Corp’s holdings in Raytheon Technologies were worth $5,390,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RTX. LGL Partners LLC raised its position in shares of Raytheon Technologies by 1.9% during the fourth quarter. LGL Partners LLC now owns 8,062 shares of the company’s stock valued at $576,000 after buying an additional 147 shares during the last quarter. JJJ Advisors Inc. raised its position in shares of Raytheon Technologies by 52.5% during the fourth quarter. JJJ Advisors Inc. now owns 453 shares of the company’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. Birinyi Associates Inc. raised its position in shares of Raytheon Technologies by 3.8% during the fourth quarter. Birinyi Associates Inc. now owns 4,340 shares of the company’s stock valued at $310,000 after buying an additional 160 shares during the last quarter. TAP Consulting LLC raised its position in shares of Raytheon Technologies by 4.1% during the fourth quarter. TAP Consulting LLC now owns 4,155 shares of the company’s stock valued at $297,000 after buying an additional 163 shares during the last quarter. Finally, Bristlecone Advisors LLC raised its position in shares of Raytheon Technologies by 0.6% during the fourth quarter. Bristlecone Advisors LLC now owns 27,137 shares of the company’s stock valued at $1,941,000 after buying an additional 165 shares during the last quarter. Institutional investors own 75.09% of the company’s stock.

Shares of NYSE RTX traded down $0.60 during mid-day trading on Thursday, hitting $77.00. 34,914 shares of the stock were exchanged, compared to its average volume of 7,458,377. The company has a market cap of $117.00 billion, a P/E ratio of -66.19, a PEG ratio of 1.67 and a beta of 1.39. The stock’s fifty day simple moving average is $76.13 and its two-hundred day simple moving average is $68.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.22. Raytheon Technologies Co. has a twelve month low of $51.13 and a twelve month high of $80.06.

Raytheon Technologies (NYSE:RTX) last released its quarterly earnings results on Monday, January 25th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ 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 firm earned $1.16 earnings per share. Raytheon Technologies’s revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Raytheon Technologies Co. will post 3.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Friday, February 26th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $1.90 annualized dividend and a dividend yield of 2.47%. Raytheon Technologies’s dividend payout ratio (DPR) is currently 23.00%.

RTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective 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. Zacks Investment Research raised 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. Finally, DZ Bank raised 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. Three investment 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 stock. Raytheon Technologies currently has a consensus rating of “Buy” and a consensus price target of $78.12.

About Raytheon Technologies

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.

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

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