Webster Bank N. A. lifted its stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,103 shares of the company’s stock after buying an additional 2,141 shares during the quarter. Webster Bank N. A.’s holdings in Raytheon Technologies were worth $4,766,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of RTX. Balyasny Asset Management LLC grew its stake in shares of Raytheon Technologies by 332.7% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,595,475 shares of the company’s stock valued at $137,147,000 after purchasing an additional 1,226,786 shares during the last quarter. Man Group plc increased its stake in Raytheon Technologies by 6.4% in the 3rd quarter. Man Group plc now owns 15,095 shares of the company’s stock valued at $1,297,000 after buying an additional 913 shares during the period. Atria Investments LLC raised its position in Raytheon Technologies by 3.4% during the 3rd quarter. Atria Investments LLC now owns 86,437 shares of the company’s stock worth $7,430,000 after buying an additional 2,802 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of Raytheon Technologies by 0.8% in the 3rd quarter. Cetera Advisor Networks LLC now owns 97,327 shares of the company’s stock worth $8,366,000 after acquiring an additional 815 shares during the period. Finally, Cetera Advisors LLC increased its stake in shares of Raytheon Technologies by 16.1% during the third quarter. Cetera Advisors LLC now owns 66,497 shares of the company’s stock worth $5,716,000 after acquiring an additional 9,234 shares during the period. Institutional investors and hedge funds own 79.56% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. StockNews.com raised Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. Barclays upped their target price on Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, March 10th. Royal Bank of Canada initiated coverage on Raytheon Technologies in a research note on Friday, April 8th. They set an “outperform” rating and a $125.00 price target for the company. Finally, Argus increased their price objective on shares of Raytheon Technologies from $100.00 to $112.00 in a research note on Wednesday, April 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Raytheon Technologies currently has an average rating of “Moderate Buy” and an average price target of $111.91.
Raytheon Technologies (NYSE:RTX – Get Rating) last released its earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $15.72 billion during the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a net margin of 6.47% and a return on equity of 9.24%. Raytheon Technologies’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. As a group, research analysts forecast that Raytheon Technologies Co. will post 4.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 18th. Raytheon Technologies’s dividend payout ratio (DPR) is currently 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.
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