Boltwood Capital Management lessened its position in Raytheon Technologies Co. (NYSE:RTX) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,222 shares of the company’s stock after selling 150 shares during the period. Boltwood Capital Management’s holdings in Raytheon Technologies were worth $481,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nippon Life Global Investors Americas Inc. bought a new position in shares of Raytheon Technologies in the fourth quarter worth approximately $22,904,000. Coho Partners Ltd. bought a new position in Raytheon Technologies during the fourth quarter valued at approximately $213,000. Kestra Private Wealth Services LLC lifted its position in Raytheon Technologies by 4.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 24,413 shares of the company’s stock valued at $1,742,000 after purchasing an additional 1,054 shares during the period. HighPoint Advisor Group LLC lifted its position in Raytheon Technologies by 49.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 35,794 shares of the company’s stock valued at $2,614,000 after purchasing an additional 11,844 shares during the period. Finally, Wellington Shields Capital Management LLC lifted its position in Raytheon Technologies by 5.3% during the fourth quarter. Wellington Shields Capital Management LLC now owns 40,477 shares of the company’s stock valued at $2,895,000 after purchasing an additional 2,049 shares during the period. Hedge funds and other institutional investors own 75.09% of the company’s stock.
A number of research analysts recently weighed in on RTX shares. Zacks Investment Research upgraded shares of Raytheon Technologies from a “sell” rating to a “hold” rating and set a $72.00 price objective on the stock in a research report on Friday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of Raytheon Technologies from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 15th. Finally, DZ Bank upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Thursday, December 17th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Raytheon Technologies presently has a consensus rating of “Buy” and an average price target of $78.12.
Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Monday, January 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. The firm had revenue of $16.42 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, analysts forecast that Raytheon Technologies Co. will post 3.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Friday, February 26th were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.47%. Raytheon Technologies’s dividend payout ratio (DPR) is presently 23.00%.
Raytheon Technologies Company Profile
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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