Old Port Advisors Sells 293 Shares of Raytheon Technologies Co. (NYSE:RTX)

Old Port Advisors reduced its holdings in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,893 shares of the company’s stock after selling 293 shares during the quarter. Old Port Advisors’ holdings in Raytheon Technologies were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RTX. Shore Point Advisors LLC bought a new stake in Raytheon Technologies in the fourth quarter worth approximately $25,000. Stuart Chaussee & Associates Inc. increased its holdings in shares of Raytheon Technologies by 135.5% during the first quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Fortis Advisors LLC bought a new stake in shares of Raytheon Technologies during the third quarter valued at approximately $32,000. Arcadia Investment Management Corp MI bought a new stake in shares of Raytheon Technologies during the fourth quarter valued at approximately $37,000. Finally, Masso Torrence Wealth Management Inc. bought a new stake in shares of Raytheon Technologies during the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 79.56% of the company’s stock.

RTX stock opened at $92.56 on Thursday. The stock’s fifty day simple moving average is $95.60 and its two-hundred day simple moving average is $94.01. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. Raytheon Technologies Co. has a 1-year low of $79.00 and a 1-year high of $106.02. The stock has a market cap of $137.66 billion, a P/E ratio of 33.18, a P/E/G ratio of 1.77 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 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.14. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The business had revenue of $15.72 billion for the quarter, compared to analysts’ expectations of $15.83 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that Raytheon Technologies Co. will post 4.77 earnings per share for the current fiscal year.

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

Several equities research analysts have recently commented on RTX shares. Argus boosted their price objective on Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Cowen boosted their price objective on Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Royal Bank of Canada started coverage on Raytheon Technologies in a report on Friday, April 8th. They set an “outperform” rating and a $125.00 price objective for the company. Cowen upped their price target on Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Finally, Barclays upped their price target on Raytheon Technologies from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Thursday, March 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.91.

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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