GSB Wealth Management LLC bought a new position in shares of Raytheon Technologies Co. (NYSE:RTX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 189,434 shares of the company’s stock, valued at approximately $14,171,000.
A number of other institutional investors and hedge funds have also modified their holdings of RTX. Dodge & Cox lifted its position in Raytheon Technologies by 29.0% during the fourth quarter. Dodge & Cox now owns 39,109,917 shares of the company’s stock worth $2,796,750,000 after buying an additional 8,787,122 shares in the last quarter. Morgan Stanley boosted its position in shares of Raytheon Technologies by 6.0% during the 4th quarter. Morgan Stanley now owns 22,214,052 shares of the company’s stock worth $1,588,525,000 after acquiring an additional 1,254,307 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Raytheon Technologies by 1.7% during the 4th quarter. Clearbridge Investments LLC now owns 21,713,023 shares of the company’s stock worth $1,552,698,000 after acquiring an additional 361,989 shares in the last quarter. Norges Bank acquired a new position in shares of Raytheon Technologies during the 4th quarter worth about $1,089,275,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Raytheon Technologies by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,383,926 shares of the company’s stock valued at $957,083,000 after purchasing an additional 42,153 shares during the last quarter. 75.09% of the stock is currently owned by institutional investors.
In related news, EVP Frank R. Jimenez sold 19,713 shares of the stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $82.47, for a total transaction of $1,625,731.11. Following the completion of the transaction, the executive vice president now owns 62,221 shares in the company, valued at $5,131,365.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.
Raytheon Technologies (NYSE:RTX) last posted its earnings results on Monday, April 26th. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The firm had revenue of $15.25 billion for the quarter, compared to analyst estimates of $15.27 billion. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. Equities analysts predict that Raytheon Technologies Co. will post 3.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Friday, May 21st will be issued a dividend of $0.51 per share. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, May 20th. This represents a $2.04 annualized dividend and a yield of 2.40%. Raytheon Technologies’s dividend payout ratio is presently 23.00%.
Several analysts have commented on RTX shares. Redburn Partners began coverage on Raytheon Technologies in a research note on Thursday. They set a “buy” rating for the company. Susquehanna Bancshares increased their target price on Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a report on Wednesday, April 28th. LADENBURG THALM/SH SH upgraded Raytheon Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, May 3rd. Wolfe Research initiated coverage on Raytheon Technologies in a research note on Thursday, April 15th. They set an “outperform” rating and a $97.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Raytheon Technologies in a research report on Wednesday, May 12th. They issued an “equal weight” rating and a $87.00 price objective on the stock. Four 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 a consensus rating of “Buy” and a consensus price target of $87.73.
Raytheon Technologies Profile
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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