Raytheon Technologies Co. (NYSE:RTX) Shares Acquired by IHT Wealth Management LLC

IHT Wealth Management LLC lifted its stake in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 58.9% in the third quarter, Holdings Channel reports. The institutional investor owned 14,787 shares of the company’s stock after buying an additional 5,480 shares during the quarter. IHT Wealth Management LLC’s holdings in Raytheon Technologies were worth $1,210,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Raytheon Technologies by 0.6% in the third quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock worth $10,083,098,000 after purchasing an additional 760,968 shares during the period. Capital World Investors boosted its holdings in Raytheon Technologies by 32.8% in the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after purchasing an additional 2,256,475 shares during the period. Alliancebernstein L.P. boosted its holdings in Raytheon Technologies by 0.5% in the third quarter. Alliancebernstein L.P. now owns 9,102,540 shares of the company’s stock worth $745,134,000 after purchasing an additional 42,111 shares during the period. Fisher Asset Management LLC boosted its holdings in Raytheon Technologies by 2.0% in the third quarter. Fisher Asset Management LLC now owns 8,575,180 shares of the company’s stock worth $701,964,000 after purchasing an additional 165,006 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Raytheon Technologies by 2.0% in the second quarter. Legal & General Group Plc now owns 8,070,171 shares of the company’s stock worth $775,626,000 after purchasing an additional 160,953 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RTX shares. JPMorgan Chase & Co. lifted their price objective on shares of Raytheon Technologies from $102.00 to $107.00 and gave the stock an “overweight” rating in a report on Monday, December 12th. StockNews.com initiated coverage on shares of Raytheon Technologies in a report on Thursday. They set a “buy” rating for the company. Morgan Stanley reduced their price target on shares of Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, January 19th. Wells Fargo & Company boosted their price target on shares of Raytheon Technologies from $96.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, January 25th. Finally, Citigroup boosted their price target on shares of Raytheon Technologies from $104.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.17.

Insiders Place Their Bets

In other Raytheon Technologies news, VP Amy L. Johnson sold 3,622 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $98.55, for a total value of $356,948.10. Following the sale, the vice president now directly owns 4,061 shares in the company, valued at $400,211.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

Raytheon Technologies Price Performance

Shares of NYSE RTX opened at $98.08 on Friday. Raytheon Technologies Co. has a fifty-two week low of $80.27 and a fifty-two week high of $108.84. The firm’s 50-day simple moving average is $98.76 and its 200 day simple moving average is $94.49. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.41. The stock has a market cap of $143.68 billion, a P/E ratio of 28.02, a P/E/G ratio of 2.34 and a beta of 1.00.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. Raytheon Technologies had a net margin of 7.75% and a return on equity of 9.73%. The firm had revenue of $18.09 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the previous year, the business earned $1.08 earnings per share. Raytheon Technologies’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts expect that Raytheon Technologies Co. will post 5 EPS for the current year.

Raytheon Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, February 23rd. Raytheon Technologies’s dividend payout ratio (DPR) is presently 62.86%.

Raytheon Technologies declared that its Board of Directors has authorized a share buyback program on Monday, December 12th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Raytheon Technologies Company Profile

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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 (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).