NTV Asset Management LLC Boosts Stake in Raytheon Technologies Co. (NYSE:RTX)

NTV Asset Management LLC boosted its holdings in Raytheon Technologies Co. (NYSE:RTX) by 8.3% in the third quarter, HoldingsChannel reports. The firm owned 18,444 shares of the company’s stock after purchasing an additional 1,420 shares during the period. NTV Asset Management LLC’s holdings in Raytheon Technologies were worth $1,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Assenagon Asset Management S.A. increased its holdings in Raytheon Technologies by 394.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,013,209 shares of the company’s stock valued at $87,095,000 after buying an additional 808,192 shares during the last quarter. Liberty Wealth Management LLC increased its position in Raytheon Technologies by 7,987.6% in the second quarter. Liberty Wealth Management LLC now owns 193,779 shares of the company’s stock worth $2,271,000 after buying an additional 191,383 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Raytheon Technologies by 6.4% during the second quarter. Private Advisor Group LLC now owns 185,715 shares of the company’s stock valued at $15,844,000 after acquiring an additional 11,156 shares during the period. Westpac Banking Corp bought a new position in shares of Raytheon Technologies during the second quarter worth about $22,056,000. Finally, Tredje AP fonden lifted its position in Raytheon Technologies by 28.0% in the 3rd quarter. Tredje AP fonden now owns 137,209 shares of the company’s stock valued at $11,794,000 after purchasing an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 78.55% of the company’s stock.

Shares of NYSE RTX remained flat at $$91.56 during midday trading on Friday. 23,110 shares of the company were exchanged, compared to its average volume of 5,277,239. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $86.35 and a 200 day moving average price of $86.51. Raytheon Technologies Co. has a twelve month low of $65.02 and a twelve month high of $92.46. The stock has a market capitalization of $137.04 billion, a P/E ratio of 41.62, a price-to-earnings-growth ratio of 1.40 and a beta of 1.39.

Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Monday, October 25th. The company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.18. The firm had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $16.36 billion. Raytheon Technologies had a net margin of 5.20% and a return on equity of 8.13%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. Research analysts anticipate that Raytheon Technologies Co. will post 4.19 EPS for the current year.

Raytheon Technologies declared that its board has initiated a stock repurchase program on Tuesday, December 7th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

In related news, EVP Michael R. Dumais sold 3,000 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $90.54, for a total transaction of $271,620.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Separately, Wells Fargo & Company lifted their price objective on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 27th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Raytheon Technologies presently has an average rating of “Buy” and a consensus target price of $100.91.

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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