World Asset Management Inc Sells 3,401 Shares of Raytheon Technologies Co. (NYSE:RTX)

World Asset Management Inc lessened its position in Raytheon Technologies Co. (NYSE:RTX) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,030 shares of the company’s stock after selling 3,401 shares during the quarter. World Asset Management Inc’s holdings in Raytheon Technologies were worth $3,671,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RTX. Morgan Stanley increased its position in Raytheon Technologies by 2.7% during the 1st quarter. Morgan Stanley now owns 22,811,203 shares of the company’s stock valued at $1,762,622,000 after purchasing an additional 597,151 shares during the period. Geode Capital Management LLC increased its position in Raytheon Technologies by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 22,445,787 shares of the company’s stock valued at $1,729,169,000 after purchasing an additional 660,152 shares during the period. Ameriprise Financial Inc. increased its position in Raytheon Technologies by 53.4% during the 1st quarter. Ameriprise Financial Inc. now owns 14,886,660 shares of the company’s stock valued at $1,150,450,000 after purchasing an additional 5,180,099 shares during the period. Bank of New York Mellon Corp increased its position in Raytheon Technologies by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 14,015,322 shares of the company’s stock valued at $1,082,963,000 after purchasing an additional 488,828 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Raytheon Technologies by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,139,653 shares of the company’s stock valued at $783,492,000 after purchasing an additional 111,807 shares during the period. 78.21% of the stock is currently owned by institutional investors.

NYSE RTX traded up $1.62 on Wednesday, hitting $84.36. 44,440 shares of the company’s stock traded hands, compared to its average volume of 6,119,611. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.41. Raytheon Technologies Co. has a 1-year low of $51.92 and a 1-year high of $89.98. The firm’s 50-day moving average price is $85.47 and its two-hundred day moving average price is $83.47. The firm has a market capitalization of $127.20 billion, a PE ratio of 57.46, a P/E/G ratio of 1.56 and a beta of 1.45.

Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Monday, July 26th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. Raytheon Technologies had a net margin of 3.51% and a return on equity of 6.80%. The business had revenue of $15.88 billion during the quarter, compared to analysts’ expectations of $15.83 billion. During the same period in the previous year, the business posted $0.39 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts anticipate that Raytheon Technologies Co. will post 4.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 9th. Investors of record on Friday, August 20th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Thursday, August 19th. Raytheon Technologies’s dividend payout ratio is currently 74.73%.

A number of research firms have commented on RTX. Wells Fargo & Company initiated coverage on shares of Raytheon Technologies in a research report on Tuesday, May 18th. They set an “equal weight” rating and a $87.00 target price on the stock. Susquehanna Bancshares lifted their price objective on shares of Raytheon Technologies from $97.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, July 28th. Credit Suisse Group lifted their price objective on shares of Raytheon Technologies from $94.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 19th. Argus raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Thursday, July 29th. Finally, TheStreet raised shares of Raytheon Technologies from a “c+” rating to a “b-” rating in a research report on Tuesday, July 27th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $97.77.

In other news, Director Robert Kelly Ortberg sold 60,000 shares of the company’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $85.10, for a total transaction of $5,106,000.00. Following the completion of the sale, the director now owns 101,704 shares of the company’s stock, valued at $8,655,010.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wesley D. Kremer sold 5,512 shares of the company’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $86.82, for a total transaction of $478,551.84. Following the sale, the insider now directly owns 73,519 shares of the company’s stock, valued at approximately $6,382,919.58. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

About Raytheon Technologies

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, Pratt and Whitney, Raytheon Intelligence and Space, and Raytheon Missiles and Defense.

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

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