Marietta Wealth Management LLC Trims Stake in Raytheon Technologies Co. (NYSE:RTX)

Marietta Wealth Management LLC lowered its holdings in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 4.6% during the first quarter, Holdings Channel.com reports. The firm owned 49,018 shares of the company’s stock after selling 2,339 shares during the period. Marietta Wealth Management LLC’s holdings in Raytheon Technologies were worth $4,856,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RTX. Garrett Investment Advisors LLC grew its stake in shares of Raytheon Technologies by 6.6% in the first quarter. Garrett Investment Advisors LLC now owns 4,714 shares of the company’s stock valued at $467,000 after buying an additional 290 shares in the last quarter. NN Investment Partners Holdings N.V. grew its stake in shares of Raytheon Technologies by 372.2% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 305,841 shares of the company’s stock valued at $26,321,000 after buying an additional 241,070 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Raytheon Technologies by 26.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 112,464 shares of the company’s stock valued at $9,678,000 after buying an additional 23,852 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Raytheon Technologies in the fourth quarter valued at $72,853,000. Finally, Allied Investment Advisors LLC grew its stake in shares of Raytheon Technologies by 2.1% in the fourth quarter. Allied Investment Advisors LLC now owns 79,851 shares of the company’s stock valued at $6,872,000 after buying an additional 1,664 shares in the last quarter. Institutional investors own 79.56% of the company’s stock.

Raytheon Technologies stock opened at $92.92 on Wednesday. Raytheon Technologies Co. has a fifty-two week low of $79.00 and a fifty-two week high of $106.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 1.16. The company has a market capitalization of $138.19 billion, a P/E ratio of 33.30, a PEG ratio of 1.77 and a beta of 1.18. The stock has a 50-day simple moving average of $95.82 and a 200-day simple moving average of $94.02.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.14. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The business had revenue of $15.72 billion during the quarter, compared to the consensus estimate of $15.83 billion. During the same period in the previous year, the business earned $0.90 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that Raytheon Technologies Co. will post 4.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, August 18th. Raytheon Technologies’s payout ratio is currently 78.85%.

Several research firms recently commented on RTX. Cowen boosted their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. StockNews.com raised Raytheon Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th. Morgan Stanley boosted their target price on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 2nd. Royal Bank of Canada assumed coverage on Raytheon Technologies in a report on Friday, April 8th. They set an “outperform” rating and a $125.00 price target for the company. Finally, Argus lifted their price target on Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Raytheon Technologies currently has an average rating of “Moderate Buy” and an average target price of $111.91.

About Raytheon Technologies (Get Rating)

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.

Further Reading

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

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