WealthPlan Investment Management LLC Invests $314,000 in Raytheon Technologies Co. (NYSE:RTX)

WealthPlan Investment Management LLC bought a new position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,172 shares of the company’s stock, valued at approximately $314,000.

Several other large investors have also recently made changes to their positions in the company. Obermeyer Wood Investment Counsel Lllp increased its holdings in shares of Raytheon Technologies by 38.7% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 13,982 shares of the company’s stock worth $1,145,000 after purchasing an additional 3,900 shares during the last quarter. Centaurus Financial Inc. increased its stake in Raytheon Technologies by 1.8% during the third quarter. Centaurus Financial Inc. now owns 20,096 shares of the company’s stock worth $1,645,000 after acquiring an additional 354 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Raytheon Technologies by 2.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 366,629 shares of the company’s stock worth $30,012,000 after acquiring an additional 8,502 shares during the last quarter. London & Capital Asset Management Ltd increased its stake in Raytheon Technologies by 3.4% during the third quarter. London & Capital Asset Management Ltd now owns 385,287 shares of the company’s stock worth $31,540,000 after acquiring an additional 12,515 shares during the last quarter. Finally, Toroso Investments LLC increased its stake in Raytheon Technologies by 7.3% during the third quarter. Toroso Investments LLC now owns 22,962 shares of the company’s stock worth $1,880,000 after acquiring an additional 1,561 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Raytheon Technologies Stock Down 2.4 %

Shares of NYSE RTX opened at $95.75 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market capitalization of $140.10 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.36 and a beta of 1.00. The stock has a 50 day moving average price of $98.62 and a 200 day moving average price of $94.52. Raytheon Technologies Co. has a 52-week low of $80.27 and a 52-week high of $108.84.

Raytheon Technologies (NYSE:RTX – Get Rating) last posted its earnings results on Tuesday, January 24th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The company had revenue of $18.09 billion during the quarter, compared to analyst estimates of $18.16 billion. Raytheon Technologies had a return on equity of 9.73% and a net margin of 7.75%. Raytheon Technologies’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts expect that Raytheon Technologies Co. will post 5 earnings per share for the current year.

Raytheon Technologies announced that its Board of Directors has approved a stock repurchase plan on Monday, December 12th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Raytheon Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, February 23rd. This represents a $2.20 dividend on an annualized basis and a yield of 2.30%. Raytheon Technologies’s dividend payout ratio is currently 62.86%.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 3,622 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $98.55, for a total transaction of $356,948.10. Following the completion of the sale, the vice president now owns 4,061 shares in the company, valued at approximately $400,211.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RTX has been the topic of several analyst reports. The Goldman Sachs Group cut Raytheon Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $115.00 to $105.00 in a research note on Friday, January 13th. Citigroup boosted their price objective on Raytheon Technologies from $104.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. StockNews.com started coverage on Raytheon Technologies in a research note on Thursday. They set a “buy” rating on the stock. Credit Suisse Group upped their target price on Raytheon Technologies from $103.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, January 25th. Finally, Morgan Stanley cut their target price on Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, January 19th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Raytheon Technologies has a consensus rating of “Moderate Buy” and an average price target of $111.17.

Raytheon Technologies 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).