Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. reduced its position in Raytheon Technologies Co. (NYSE:RTX) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 328,605 shares of the company’s stock after selling 19,470 shares during the period. Becker Capital Management Inc.’s holdings in Raytheon Technologies were worth $28,247,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of RTX. Man Group plc increased its position in Raytheon Technologies by 82.8% during the first quarter. Man Group plc now owns 25,195 shares of the company’s stock worth $1,947,000 after acquiring an additional 11,414 shares during the period. Gladstone Institutional Advisory LLC boosted its stake in shares of Raytheon Technologies by 122.1% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 7,126 shares of the company’s stock valued at $551,000 after purchasing an additional 3,918 shares in the last quarter. Axiom Investment Management LLC acquired a new position in Raytheon Technologies during the 1st quarter worth about $312,000. Stonnington Group LLC acquired a new position in Raytheon Technologies during the 1st quarter worth about $204,000. Finally, Childress Capital Advisors LLC acquired a new position in Raytheon Technologies during the 1st quarter worth about $270,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

In related news, EVP Michael R. Dumais sold 3,000 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $90.54, for a total value of $271,620.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by company insiders.

Shares of RTX traded down $0.12 during mid-day trading on Thursday, hitting $87.19. 3,464,747 shares of the company’s stock were exchanged, compared to its average volume of 5,885,341. The company has a market cap of $130.50 billion, a PE ratio of 39.63, a P/E/G ratio of 1.61 and a beta of 1.38. Raytheon Technologies Co. has a 52 week low of $65.02 and a 52 week high of $92.32. The company has a 50-day simple moving average of $88.44 and a 200 day simple moving average of $86.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 0.95.

Raytheon Technologies (NYSE:RTX) last released its quarterly earnings data on Monday, October 25th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.08 by $0.18. Raytheon Technologies had a return on equity of 8.13% and a net margin of 5.20%. The company had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $16.36 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Raytheon Technologies Co. will post 4.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Friday, November 19th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, November 18th. Raytheon Technologies’s payout ratio is 92.73%.

Several research analysts recently issued reports on RTX shares. Argus upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Thursday, July 29th. Benchmark reissued a “hold” rating on shares of Raytheon Technologies in a research note on Wednesday, August 25th. Susquehanna increased their target price on Raytheon Technologies from $97.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, July 28th. Wells Fargo & Company increased their target price on Raytheon Technologies from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 27th. Finally, Morgan Stanley increased their target price on Raytheon Technologies from $97.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 11th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $98.54.

Raytheon Technologies Company 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.

Read More: Example of operating income, EBIT and EBITDA

Institutional Ownership by Quarter for Raytheon Technologies (NYSE:RTX)

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