Insider Selling: Raytheon Technologies Co. (NYSE:RTX) VP Sells $356,948.10 in Stock

Raytheon Technologies Co. (NYSE:RTX – Get Rating) VP Amy L. Johnson sold 3,622 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $98.55, for a total value of $356,948.10. Following the sale, the vice president now directly owns 4,061 shares in the company, valued at $400,211.55. The transaction was disclosed in a filing with the SEC, which is available at this link.

Raytheon Technologies Trading Up 0.0 %

NYSE:RTX opened at $99.02 on Friday. Raytheon Technologies Co. has a 1 year low of $80.27 and a 1 year high of $108.84. The stock has a market cap of $145.06 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 2.38 and a beta of 1.00. The business has a fifty day moving average of $99.28 and a 200-day moving average of $94.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 1.09.

Raytheon Technologies (NYSE:RTX – Get Rating) last released its quarterly earnings results on Tuesday, January 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.03. Raytheon Technologies had a return on equity of 9.73% and a net margin of 7.75%. The company had revenue of $18.09 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts predict that Raytheon Technologies Co. will post 5 earnings per share for the current year.

Raytheon Technologies declared that its Board of Directors has authorized a stock buyback plan on Monday, December 12th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Raytheon Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Friday, February 24th will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, February 23rd. This represents a $2.20 annualized dividend and a yield of 2.22%. Raytheon Technologies’s dividend payout ratio is currently 62.86%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RTX. Cantor Fitzgerald Investment Advisor L.P boosted its stake in Raytheon Technologies by 94.5% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock valued at $31,918,000 after buying an additional 156,550 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Raytheon Technologies by 9.2% during the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock valued at $1,091,000 after purchasing an additional 931 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of Raytheon Technologies by 1.2% during the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock valued at $1,066,000 after purchasing an additional 128 shares during the last quarter. AMI Investment Management Inc. lifted its holdings in shares of Raytheon Technologies by 53.1% during the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock valued at $3,517,000 after purchasing an additional 12,316 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Raytheon Technologies by 1.4% during the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock valued at $14,038,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RTX. Credit Suisse Group upped their price target on Raytheon Technologies from $103.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 25th. The Goldman Sachs Group lowered Raytheon Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $115.00 to $105.00 in a research report on Friday, January 13th. Morgan Stanley dropped their price target on Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, January 19th. JPMorgan Chase & Co. upped their price objective on Raytheon Technologies from $102.00 to $107.00 and gave the stock an “overweight” rating in a research note on Monday, December 12th. Finally, Wells Fargo & Company upped their price objective on Raytheon Technologies from $96.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.85.

Raytheon Technologies Company Profile

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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.