Marcum Wealth LLC Grows Holdings in Raytheon Technologies Co. (NYSE:RTX)

Marcum Wealth LLC increased its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 6.9% during the 2nd quarter, Holdings Channel reports. The firm owned 13,917 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Marcum Wealth LLC’s holdings in Raytheon Technologies were worth $1,187,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. CapWealth Advisors LLC raised its position in Raytheon Technologies by 0.7% in the second quarter. CapWealth Advisors LLC now owns 198,148 shares of the company’s stock worth $16,904,000 after acquiring an additional 1,386 shares during the period. Investment Management of Virginia LLC bought a new stake in Raytheon Technologies in the second quarter worth about $693,000. National Asset Management Inc. raised its position in Raytheon Technologies by 14.4% in the second quarter. National Asset Management Inc. now owns 63,849 shares of the company’s stock worth $5,447,000 after acquiring an additional 8,056 shares during the period. Midwest Professional Planners LTD. raised its position in Raytheon Technologies by 173.6% in the second quarter. Midwest Professional Planners LTD. now owns 18,689 shares of the company’s stock worth $1,594,000 after acquiring an additional 11,859 shares during the period. Finally, One Charles Private Wealth Services LLC bought a new stake in Raytheon Technologies in the second quarter worth about $1,496,000. Institutional investors and hedge funds own 78.21% of the company’s stock.

In other news, Director Robert Kelly Ortberg sold 60,000 shares of the business’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $85.10, for a total transaction of $5,106,000.00. Following the completion of the sale, the director now directly owns 101,704 shares of the company’s stock, valued at $8,655,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wesley D. Kremer sold 5,512 shares of Raytheon Technologies stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $86.82, for a total value of $478,551.84. Following the completion of the sale, the insider now owns 73,519 shares of the company’s stock, valued at $6,382,919.58. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

RTX has been the topic of several research reports. Wells Fargo & Company initiated coverage on shares of Raytheon Technologies in a research report on Tuesday, May 18th. They issued an “equal weight” rating and a $87.00 price objective on the stock. Credit Suisse Group boosted their price target on shares of Raytheon Technologies from $94.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 19th. Jefferies Financial Group boosted their price target on shares of Raytheon Technologies from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, June 3rd. Susquehanna boosted their price objective on shares of Raytheon Technologies from $97.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Finally, TheStreet raised shares of Raytheon Technologies from a “c+” rating to a “b-” rating in a research note on Tuesday, July 27th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $97.77.

NYSE RTX traded up $0.89 on Wednesday, hitting $83.63. 22,940 shares of the stock were exchanged, compared to its average volume of 6,119,611. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 1.17. The stock has a fifty day moving average price of $85.47 and a two-hundred day moving average price of $83.47. The firm has a market capitalization of $126.10 billion, a P/E ratio of 57.46, a P/E/G ratio of 1.56 and a beta of 1.45. Raytheon Technologies Co. has a 52-week low of $51.92 and a 52-week high of $89.98.

Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings data on Monday, July 26th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The company had revenue of $15.88 billion during the quarter, compared to analyst estimates of $15.83 billion. Raytheon Technologies had a net margin of 3.51% and a return on equity of 6.80%. Raytheon Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. Sell-side analysts expect that Raytheon Technologies Co. will post 4.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Friday, August 20th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, August 19th. Raytheon Technologies’s dividend payout ratio is currently 74.73%.

Raytheon Technologies Profile

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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