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

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 34.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,583 shares of the company’s stock after selling 145,603 shares during the period. Raytheon Technologies makes up about 2.0% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 20th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Raytheon Technologies were worth $27,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Shore Point Advisors LLC bought a new position in Raytheon Technologies during the 4th quarter valued at approximately $25,000. Stuart Chaussee & Associates Inc. increased its position in Raytheon Technologies by 135.5% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Fortis Advisors LLC bought a new position in Raytheon Technologies during the 3rd quarter valued at approximately $32,000. Arcadia Investment Management Corp MI purchased a new stake in Raytheon Technologies during the 4th quarter valued at $37,000. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in Raytheon Technologies during the 4th quarter valued at $47,000. 79.56% of the stock is owned by institutional investors.

Several brokerages have commented on RTX. Cowen increased their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Morgan Stanley increased their target price on Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Cowen increased their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Argus increased 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 issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.91.

NYSE RTX opened at $92.56 on Thursday. The company has a market capitalization of $137.66 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 1.16. The business’s fifty day moving average is $95.60 and its 200 day moving average is $94.01. Raytheon Technologies Co. has a fifty-two week low of $79.00 and a fifty-two week high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last released its earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.14. The company had revenue of $15.72 billion for the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. Raytheon Technologies’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. On average, sell-side analysts forecast 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 given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.20 annualized dividend and a yield of 2.38%. Raytheon Technologies’s dividend payout ratio (DPR) 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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