Seelaus Asset Management LLC Raises Position in Raytheon Technologies Co. (NYSE:RTX)

Seelaus Asset Management LLC increased its holdings in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 305.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,175 shares of the company’s stock after purchasing an additional 10,680 shares during the quarter. Raytheon Technologies accounts for 0.8% of Seelaus Asset Management LLC’s investment portfolio, making the stock its 26th biggest position. Seelaus Asset Management LLC’s holdings in Raytheon Technologies were worth $1,404,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Balyasny Asset Management LLC increased its position in shares of Raytheon Technologies by 332.7% in the third quarter. Balyasny Asset Management LLC now owns 1,595,475 shares of the company’s stock valued at $137,147,000 after acquiring an additional 1,226,786 shares during the period. Man Group plc increased its position in shares of Raytheon Technologies by 6.4% in the third quarter. Man Group plc now owns 15,095 shares of the company’s stock valued at $1,297,000 after acquiring an additional 913 shares during the period. Atria Investments LLC increased its position in shares of Raytheon Technologies by 3.4% in the third quarter. Atria Investments LLC now owns 86,437 shares of the company’s stock valued at $7,430,000 after acquiring an additional 2,802 shares during the period. Cetera Advisor Networks LLC increased its position in shares of Raytheon Technologies by 0.8% in the third quarter. Cetera Advisor Networks LLC now owns 97,327 shares of the company’s stock valued at $8,366,000 after acquiring an additional 815 shares during the period. Finally, Cetera Advisors LLC increased its position in shares of Raytheon Technologies by 16.1% in the third quarter. Cetera Advisors LLC now owns 66,497 shares of the company’s stock valued at $5,716,000 after acquiring an additional 9,234 shares during the period. Institutional investors own 79.56% of the company’s stock.

A number of research firms have issued reports on RTX. Argus boosted their price objective on shares of Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. StockNews.com upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. Morgan Stanley lifted their target price on shares of Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Cowen lifted their target price on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Finally, Barclays lifted their target price on shares of Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday, March 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to 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. Raytheon Technologies Co. has a one year low of $79.00 and a one year high of $106.02. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 0.88. The company’s 50-day simple moving average is $95.60 and its 200 day simple moving average is $94.01. The firm has a market capitalization of $137.66 billion, a P/E ratio of 33.18, a PEG ratio of 1.85 and a beta of 1.18.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.01 by $0.14. Raytheon Technologies had a net margin of 6.47% and a return on equity of 9.24%. The business had revenue of $15.72 billion for the quarter, compared to analyst estimates of $15.83 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Raytheon Technologies’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Raytheon Technologies Co. will post 4.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.20 annualized dividend and a dividend yield of 2.38%. Raytheon Technologies’s dividend payout ratio is presently 78.85%.

Raytheon Technologies Company Profile (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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