Curbstone Financial Management Corp Has $2.67 Million Stake in Raytheon Technologies Co. (NYSE:RTX)


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Curbstone Financial Management Corp decreased its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 0.7% in the first quarter, Holdings Channel reports. The fund owned 34,554 shares of the company’s stock after selling 250 shares during the period. Curbstone Financial Management Corp’s holdings in Raytheon Technologies were worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in RTX. Dodge & Cox increased its holdings in shares of Raytheon Technologies by 29.0% during the 4th quarter. Dodge & Cox now owns 39,109,917 shares of the company’s stock worth $2,796,750,000 after purchasing an additional 8,787,122 shares during the period. Morgan Stanley increased its holdings 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 purchasing an additional 1,254,307 shares during the period. Clearbridge Investments LLC increased its holdings 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 purchasing an additional 361,989 shares during the period. Norges Bank bought a new position in shares of Raytheon Technologies during the 4th quarter worth about $1,089,275,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Raytheon Technologies by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,383,926 shares of the company’s stock worth $957,083,000 after purchasing an additional 42,153 shares during the period. 75.09% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Raytheon Technologies from $79.00 to $85.00 and gave the stock an “overweight” rating in a 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 target price on the stock in a research note 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 target price on the stock in a research note on Thursday, December 17th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $78.12.

NYSE:RTX traded down $0.65 on Thursday, reaching $76.95. The stock had a trading volume of 31,387 shares, compared to its average volume of 7,458,377. The company has a market capitalization of $116.92 billion, a P/E ratio of -66.90, a price-to-earnings-growth ratio of 1.67 and a beta of 1.39. Raytheon Technologies Co. has a 1-year low of $51.13 and a 1-year high of $80.06. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $76.13 and a 200-day moving average price of $68.97.

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 Zacks’ 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 firm had revenue of $16.42 billion for the quarter, compared to analyst estimates of $16.07 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts predict that Raytheon Technologies Co. will post 3.01 earnings per share for the current fiscal year.

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

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

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