Raytheon Technologies Co. (NYSE:RTX) Stock Position Lowered by Vigilare Wealth Management

Vigilare Wealth Management lessened its position in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 11.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,431 shares of the company’s stock after selling 1,790 shares during the period. Raytheon Technologies makes up 0.8% of Vigilare Wealth Management’s holdings, making the stock its 20th largest position. Vigilare Wealth Management’s holdings in Raytheon Technologies were worth $1,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P raised its position in shares of Raytheon Technologies by 94.5% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after purchasing an additional 156,550 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Raytheon Technologies by 9.2% during the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after purchasing an additional 931 shares during the period. Ironwood Wealth Management LLC. raised its position in shares of Raytheon Technologies by 1.2% during the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after purchasing an additional 128 shares during the period. AMI Investment Management Inc. raised its position in shares of Raytheon Technologies by 53.1% during the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock worth $3,517,000 after purchasing an additional 12,316 shares during the period. Finally, LSV Asset Management raised its position in shares of Raytheon Technologies by 1.4% during the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insider Activity

In other news, VP Amy L. Johnson sold 3,622 shares of Raytheon Technologies stock in a transaction that occurred on 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 owns 4,061 shares of the company’s stock, valued at $400,211.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Raytheon Technologies from $102.00 to $107.00 and gave the company an “overweight” rating in a research report on Monday, December 12th. Credit Suisse Group upped their price target on Raytheon Technologies from $103.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 25th. Morgan Stanley dropped their price target on Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, January 19th. Citigroup upped their price target on Raytheon Technologies from $104.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. Finally, Wells Fargo & Company upped their price target on Raytheon Technologies from $96.00 to $107.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 25th. 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.com, Raytheon Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $111.17.

Raytheon Technologies Stock Performance

Shares of NYSE RTX opened at $95.75 on Friday. The business’s 50-day moving average price is $98.62 and its two-hundred day moving average price is $94.52. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.09 and a quick ratio of 0.81. Raytheon Technologies Co. has a one year low of $80.27 and a one year high of $108.84. The company has a market capitalization of $140.10 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. The business had revenue of $18.09 billion for 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%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 EPS. Analysts anticipate that Raytheon Technologies Co. will post 5 earnings per share for the current fiscal year.

Raytheon Technologies declared that its board has approved a share buyback plan on Monday, December 12th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Raytheon Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Friday, February 24th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, February 23rd. Raytheon Technologies’s dividend payout ratio is 62.86%.

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).