Utah Retirement Systems Sells 12,000 Shares of Raytheon Technologies Co. (NYSE:RTX)

Utah Retirement Systems cut its stake in Raytheon Technologies Co. (NYSE:RTX) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,825 shares of the company’s stock after selling 12,000 shares during the period. Utah Retirement Systems’ holdings in Raytheon Technologies were worth $21,159,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Dempze Nancy E grew its holdings in Raytheon Technologies by 6.1% during the 1st quarter. Dempze Nancy E now owns 30,372 shares of the company’s stock worth $2,348,000 after acquiring an additional 1,750 shares in the last quarter. Scholtz & Company LLC grew its holdings in Raytheon Technologies by 1.6% during the 1st quarter. Scholtz & Company LLC now owns 82,652 shares of the company’s stock worth $6,386,000 after acquiring an additional 1,290 shares in the last quarter. Farr Miller & Washington LLC DC grew its holdings in Raytheon Technologies by 56.5% during the 1st quarter. Farr Miller & Washington LLC DC now owns 520,627 shares of the company’s stock worth $40,229,000 after acquiring an additional 187,900 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Raytheon Technologies by 3.9% in the 1st quarter. Merit Financial Group LLC now owns 28,140 shares of the company’s stock valued at $2,174,000 after buying an additional 1,050 shares in the last quarter. Finally, Jackson Square Capital LLC boosted its holdings in shares of Raytheon Technologies by 5.0% in the 1st quarter. Jackson Square Capital LLC now owns 6,128 shares of the company’s stock valued at $474,000 after buying an additional 290 shares in the last quarter. Institutional investors own 78.23% of the company’s stock.

In other Raytheon Technologies news, EVP Michael R. Dumais sold 4,552 shares of Raytheon Technologies stock in a transaction on Monday, May 24th. The shares were sold at an average price of $86.27, for a total transaction of $392,701.04. Following the sale, the executive vice president now owns 74,374 shares of the company’s stock, valued at approximately $6,416,244.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 60,000 shares of Raytheon Technologies stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $85.10, for a total transaction of $5,106,000.00. Following the sale, the director now directly owns 101,704 shares in the company, valued at approximately $8,655,010.40. The disclosure for this sale can be found here. Insiders sold a total of 85,665 shares of company stock worth $7,244,790 in the last three months. 0.11% of the stock is owned by corporate insiders.

RTX traded down $0.80 during trading on Thursday, reaching $85.78. 49,542 shares of the company’s stock were exchanged, compared to its average volume of 4,819,767. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.17 and a quick ratio of 0.91. The stock has a market capitalization of $129.96 billion, a PE ratio of 32.37, a P/E/G ratio of 1.72 and a beta of 1.46. The stock has a fifty day moving average of $86.66. Raytheon Technologies Co. has a 1 year low of $51.92 and a 1 year high of $89.98.

Raytheon Technologies (NYSE:RTX) last posted its earnings results on Monday, April 26th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.02. The firm had revenue of $15.25 billion during the quarter, compared to analyst estimates of $15.27 billion. Raytheon Technologies had a negative net margin of 4.44% and a positive return on equity of 5.54%. The business’s quarterly revenue was up 34.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. As a group, analysts predict that Raytheon Technologies Co. will post 3.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 9th. Investors of record on Friday, August 20th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, August 19th. This represents a $2.04 dividend on an annualized basis and a yield of 2.38%. Raytheon Technologies’s dividend payout ratio is currently 74.73%.

A number of research firms have recently weighed in on RTX. Redburn Partners began coverage on shares of Raytheon Technologies in a report on Thursday, May 13th. They issued a “buy” rating on the stock. Wells Fargo & Company began coverage on shares of Raytheon Technologies in a report on Tuesday, May 18th. They issued an “equal weight” rating and a $87.00 price target on the stock. Morgan Stanley raised their price target on shares of Raytheon Technologies from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, April 28th. Wolfe Research assumed coverage on shares of Raytheon Technologies in a research report on Friday, April 9th. They issued an “outperform” rating and a $97.00 price objective for the company. Finally, Susquehanna Bancshares increased their price objective on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Raytheon Technologies has a consensus rating of “Buy” and a consensus price target of $95.17.

About Raytheon Technologies

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.

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

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