Toroso Investments LLC Purchases 1,561 Shares of Raytheon Technologies Co. (NYSE:RTX)

Toroso Investments LLC grew its position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 7.3% in the third quarter, HoldingsChannel.com reports. The firm owned 22,962 shares of the company’s stock after acquiring an additional 1,561 shares during the period. Toroso Investments LLC’s holdings in Raytheon Technologies were worth $1,880,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FSC Wealth Advisors LLC bought a new position in shares of Raytheon Technologies in the third quarter worth approximately $25,000. McClarren Financial Advisors Inc. bought a new position in shares of Raytheon Technologies in the third quarter worth approximately $25,000. SJS Investment Consulting Inc. purchased a new position in shares of Raytheon Technologies in the third quarter worth $26,000. Private Ocean LLC lifted its holdings in shares of Raytheon Technologies by 65.3% in the third quarter. Private Ocean LLC now owns 329 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Finally, Coston McIsaac & Partners purchased a new position in shares of Raytheon Technologies in the second quarter worth $31,000. 78.83% of the stock is currently owned by institutional investors.

Raytheon Technologies Trading Up 2.3 %

RTX stock opened at $98.08 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.41. Raytheon Technologies Co. has a twelve month low of $80.27 and a twelve month high of $108.84. The stock has a market capitalization of $143.51 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. The firm’s fifty day simple moving average is $98.76 and its two-hundred day simple moving average is $94.49.

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

Raytheon Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Friday, February 24th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, February 23rd. Raytheon Technologies’s payout ratio is presently 62.86%.

Raytheon Technologies declared that its board has approved 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 purchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price 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. Credit Suisse Group boosted their target price on shares of Raytheon Technologies from $103.00 to $106.00 and gave the stock a “neutral” rating in a report on Wednesday, January 25th. Wells Fargo & Company boosted their target price on shares of Raytheon Technologies from $96.00 to $107.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 25th. Citigroup upped their price target on shares of Raytheon Technologies from $104.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. Finally, The Goldman Sachs Group downgraded shares of Raytheon Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $115.00 to $105.00 in a research note on Friday, January 13th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Raytheon Technologies currently has an average rating of “Moderate Buy” and an average price target of $111.17.

Insider Transactions at Raytheon Technologies

In other news, VP Amy L. Johnson sold 3,622 shares of the company’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 transaction, the vice president now directly owns 4,061 shares in the company, valued at $400,211.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

About Raytheon Technologies

(Get Rating)

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).