LPL Financial LLC Has $50.88 Million Position in Raytheon Technologies Co. (NYSE:RTX)

LPL Financial LLC lowered its stake in shares of Raytheon Technologies Co. (NYSE:RTX) by 11.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 884,226 shares of the company’s stock after selling 111,323 shares during the period. LPL Financial LLC’s holdings in Raytheon Technologies were worth $50,878,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Raytheon Technologies during the second quarter valued at about $7,929,593,000. Bank of New York Mellon Corp acquired a new position in shares of Raytheon Technologies during the second quarter valued at about $975,282,000. Nuveen Asset Management LLC bought a new stake in Raytheon Technologies in the second quarter valued at about $893,868,000. Charles Schwab Investment Management Inc. bought a new stake in Raytheon Technologies in the second quarter valued at about $826,942,000. Finally, Davis Selected Advisers bought a new stake in Raytheon Technologies in the second quarter valued at about $694,253,000. 74.47% of the stock is owned by institutional investors and hedge funds.

In other Raytheon Technologies news, Chairman Thomas A. Kennedy acquired 19,059 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were acquired at an average cost of $52.47 per share, for a total transaction of $1,000,025.73. Following the completion of the acquisition, the chairman now directly owns 362,541 shares of the company’s stock, valued at approximately $19,022,526.27. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frank R. Jimenez acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was acquired at an average price of $52.57 per share, for a total transaction of $52,570.00. Following the completion of the acquisition, the executive vice president now directly owns 61,113 shares of the company’s stock, valued at $3,212,710.41. The disclosure for this purchase can be found here. Insiders have bought 84,591 shares of company stock worth $4,567,268 over the last three months. 0.18% of the stock is owned by insiders.

A number of research firms recently weighed in on RTX. JPMorgan Chase & Co. raised shares of Raytheon Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $66.00 to $79.00 in a research note on Tuesday, November 10th. The Goldman Sachs Group raised shares of Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a research note on Sunday, September 20th. ValuEngine raised shares of Raytheon Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Argus cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Morgan Stanley assumed coverage on shares of Raytheon Technologies in a research note on Tuesday, September 8th. They issued an “overweight” rating and a $89.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Raytheon Technologies has a consensus rating of “Buy” and an average price target of $86.47.

RTX opened at $68.87 on Wednesday. Raytheon Technologies Co. has a one year low of $40.72 and a one year high of $93.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.91. The company’s 50 day simple moving average is $60.12 and its 200-day simple moving average is $61.29. The stock has a market capitalization of $104.59 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.23.

Raytheon Technologies (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.08. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The business had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the prior year, the firm earned $1.27 earnings per share. Raytheon Technologies’s revenue was up 32.3% compared to the same quarter last year. As a group, analysts anticipate that Raytheon Technologies Co. will post 2.86 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.90 annualized dividend and a dividend yield of 2.76%. Raytheon Technologies’s dividend payout ratio (DPR) is currently 23.00%.

About Raytheon Technologies

Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates in four businesses: 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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