Raytheon Technologies Co. (NYSE:RTX) Shares Bought by NTV Asset Management LLC

NTV Asset Management LLC boosted its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 8.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,444 shares of the company’s stock after purchasing an additional 1,420 shares during the period. NTV Asset Management LLC’s holdings in Raytheon Technologies were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tredje AP fonden grew its stake in Raytheon Technologies by 28.0% during the 3rd quarter. Tredje AP fonden now owns 137,209 shares of the company’s stock valued at $11,794,000 after acquiring an additional 30,000 shares in the last quarter. Prentice Wealth Management LLC acquired a new position in shares of Raytheon Technologies in the 3rd quarter worth approximately $966,000. Financial Advantage Inc. lifted its holdings in shares of Raytheon Technologies by 0.6% in the 3rd quarter. Financial Advantage Inc. now owns 38,742 shares of the company’s stock worth $3,330,000 after acquiring an additional 233 shares during the last quarter. Principal Street Partners LLC lifted its holdings in Raytheon Technologies by 5.5% during the 3rd quarter. Principal Street Partners LLC now owns 4,905 shares of the company’s stock worth $421,000 after buying an additional 254 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in Raytheon Technologies by 36.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 30,179 shares of the company’s stock valued at $2,594,000 after buying an additional 8,136 shares during the period. 78.55% of the stock is owned by institutional investors.

Shares of Raytheon Technologies stock remained flat at $$91.56 on Friday. The stock had a trading volume of 23,110 shares, compared to its average volume of 5,277,239. Raytheon Technologies Co. has a fifty-two week low of $65.02 and a fifty-two week high of $92.46. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The firm has a market cap of $137.04 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 1.40 and a beta of 1.39. The business has a 50-day moving average price of $86.35 and a 200 day moving average price of $86.51.

Raytheon Technologies (NYSE:RTX) last posted its earnings results on Monday, October 25th. The company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.18. Raytheon Technologies had a return on equity of 8.13% and a net margin of 5.20%. The business had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $16.36 billion. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts predict that Raytheon Technologies Co. will post 4.19 EPS for the current fiscal year.

Raytheon Technologies announced that its board has approved a stock buyback plan on Tuesday, December 7th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Separately, Wells Fargo & Company boosted their target price on Raytheon Technologies from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 27th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $100.91.

In other news, EVP Michael R. Dumais sold 3,000 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $90.54, for a total value of $271,620.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

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, Pratt and Whitney, Raytheon Intelligence and Space, and Raytheon Missiles and Defense.

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

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