M&R Capital Management Inc. lowered its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 27.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,713 shares of the company’s stock after selling 1,003 shares during the quarter. M&R Capital Management Inc.’s holdings in Raytheon Technologies were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Renaissance Investment Group LLC grew its stake in Raytheon Technologies by 6.1% in the 1st quarter. Renaissance Investment Group LLC now owns 86,614 shares of the company’s stock valued at $6,693,000 after buying an additional 4,986 shares during the last quarter. Cacti Asset Management LLC grew its stake in Raytheon Technologies by 7.6% in the 1st quarter. Cacti Asset Management LLC now owns 291,312 shares of the company’s stock valued at $22,510,000 after buying an additional 20,507 shares during the last quarter. Bard Financial Services Inc. acquired a new position in Raytheon Technologies in the 4th quarter valued at $1,974,000. Legacy Wealth Asset Management LLC acquired a new stake in Raytheon Technologies in the 4th quarter worth $703,000. Finally, IronBridge Private Wealth LLC acquired a new stake in Raytheon Technologies in the 4th quarter worth $29,000. Institutional investors and hedge funds own 75.09% of the company’s stock.
Several research firms have issued reports on RTX. Zacks Investment Research upgraded shares of Raytheon Technologies from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research report on Friday, January 29th. DZ Bank upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Thursday, December 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Raytheon Technologies from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 15th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $78.12.
Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings data on Monday, January 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. The firm had revenue of $16.42 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 earnings per share. Analysts predict that Raytheon Technologies Co. will post 3.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Friday, February 26th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Thursday, February 25th. Raytheon Technologies’s dividend payout ratio (DPR) is presently 23.00%.
About Raytheon Technologies
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.
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