MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 145,603 Shares of Raytheon Technologies Co. (NYSE:RTX)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its stake in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 34.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 273,583 shares of the company’s stock after selling 145,603 shares during the quarter. Raytheon Technologies accounts for about 2.0% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 20th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Raytheon Technologies were worth $27,441,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC raised its stake in shares of Raytheon Technologies by 1.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 20,004 shares of the company’s stock valued at $1,982,000 after purchasing an additional 312 shares during the period. Seelaus Asset Management LLC raised its stake in shares of Raytheon Technologies by 305.6% during the 1st quarter. Seelaus Asset Management LLC now owns 14,175 shares of the company’s stock valued at $1,404,000 after purchasing an additional 10,680 shares during the period. Webster Bank N. A. raised its stake in shares of Raytheon Technologies by 4.7% during the 1st quarter. Webster Bank N. A. now owns 48,103 shares of the company’s stock valued at $4,766,000 after purchasing an additional 2,141 shares during the period. Executive Wealth Management LLC raised its stake in shares of Raytheon Technologies by 6.7% during the 1st quarter. Executive Wealth Management LLC now owns 82,857 shares of the company’s stock valued at $8,208,000 after purchasing an additional 5,167 shares during the period. Finally, Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Raytheon Technologies by 94.5% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock valued at $31,918,000 after purchasing an additional 156,550 shares during the period. Institutional investors own 79.56% of the company’s stock.

A number of equities analysts have weighed in on the company. Cowen upped their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Morgan Stanley upped their target price on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 2nd. Cowen upped their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Argus upped their target price on Raytheon Technologies from $100.00 to $112.00 in a research note on Wednesday, April 27th. Finally, StockNews.com upgraded Raytheon Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.91.

RTX opened at $92.56 on Thursday. The stock has a 50-day moving average price of $95.60 and a 200-day moving average price of $94.01. Raytheon Technologies Co. has a 12-month low of $79.00 and a 12-month high of $106.02. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $137.66 billion, a P/E ratio of 33.18, a PEG ratio of 1.85 and a beta of 1.18.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The firm had revenue of $15.72 billion during the quarter, compared to analysts’ expectations of $15.83 billion. During the same period in the prior year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Raytheon Technologies Co. will post 4.77 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 18th. Raytheon Technologies’s dividend payout ratio is presently 78.85%.

About Raytheon Technologies (Get Rating)

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.

Further Reading

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

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