Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Marietta Wealth Management LLC

Marietta Wealth Management LLC reduced its holdings in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 4.6% during the 1st quarter, Holdings Channel reports. The firm owned 49,018 shares of the company’s stock after selling 2,339 shares during the quarter. Marietta Wealth Management LLC’s holdings in Raytheon Technologies were worth $4,856,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Shore Point Advisors LLC acquired a new stake in Raytheon Technologies in the fourth quarter valued at approximately $25,000. Stuart Chaussee & Associates Inc. grew its holdings in Raytheon Technologies by 135.5% in the first quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Fortis Advisors LLC purchased a new position in shares of Raytheon Technologies in the third quarter valued at approximately $32,000. Arcadia Investment Management Corp MI purchased a new position in shares of Raytheon Technologies in the fourth quarter valued at approximately $37,000. Finally, Masso Torrence Wealth Management Inc. purchased a new position in shares of Raytheon Technologies in the fourth quarter valued at approximately $47,000. 79.56% of the stock is currently owned by institutional investors.

NYSE:RTX opened at $92.92 on Wednesday. Raytheon Technologies Co. has a 52 week low of $79.00 and a 52 week high of $106.02. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $138.19 billion, a P/E ratio of 33.30, a P/E/G ratio of 1.77 and a beta of 1.18. The stock’s fifty day moving average is $95.82 and its two-hundred day moving average is $94.02.

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

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

RTX has been the topic of several research reports. Morgan Stanley raised their target price on Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. Cowen raised their target price on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Argus raised their target price on Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Cowen raised their target price on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Finally, Royal Bank of Canada started coverage on Raytheon Technologies in a research report on Friday, April 8th. They set an “outperform” rating and a $125.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Technologies Co. (NYSE:RTXGet Rating).

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

Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.