Capital Investment Advisors LLC Sells 1,777 Shares of Raytheon Technologies Co. (NYSE:RTX)

Capital Investment Advisors LLC lessened its stake in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 1.6% in the first quarter, HoldingsChannel reports. The firm owned 107,776 shares of the company’s stock after selling 1,777 shares during the period. Capital Investment Advisors LLC’s holdings in Raytheon Technologies were worth $10,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Balyasny Asset Management LLC increased its holdings in 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 purchasing an additional 1,226,786 shares during the last quarter. Man Group plc grew its stake in 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 grew its stake in 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 grew its stake in 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 boosted its position in shares of Raytheon Technologies by 16.1% during the third quarter. Cetera Advisors LLC now owns 66,497 shares of the company’s stock worth $5,716,000 after buying an additional 9,234 shares during the period. Institutional investors and hedge funds own 79.56% of the company’s stock.

RTX has been the subject of several recent research reports. Morgan Stanley upped their price objective on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. Cowen upped their price objective on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Royal Bank of Canada initiated coverage on Raytheon Technologies in a research report on Friday, April 8th. They set an “outperform” rating and a $125.00 price objective for the company. Cowen upped their price objective on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Finally, Barclays upped their price objective on Raytheon Technologies from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Thursday, March 10th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.91.

NYSE:RTX opened at $92.56 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average price is $95.60 and its two-hundred day moving average price is $94.01. The firm has a market capitalization of $137.66 billion, a price-to-earnings ratio of 33.18, a P/E/G ratio of 1.85 and a beta of 1.18. Raytheon Technologies Co. has a 12-month low of $79.00 and a 12-month high of $106.02.

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

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