IHT Wealth Management LLC Increases Stake in Raytheon Technologies Co. (NYSE:RTX)

IHT Wealth Management LLC grew its position in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 58.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,787 shares of the company’s stock after buying an additional 5,480 shares during the quarter. IHT Wealth Management LLC’s holdings in Raytheon Technologies were worth $1,210,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Raytheon Technologies by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock worth $10,083,098,000 after buying an additional 760,968 shares during the last quarter. Capital World Investors raised its position in Raytheon Technologies by 32.8% during the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after buying an additional 2,256,475 shares during the last quarter. Alliancebernstein L.P. raised its position in Raytheon Technologies by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 9,102,540 shares of the company’s stock worth $745,134,000 after buying an additional 42,111 shares during the last quarter. Fisher Asset Management LLC raised its position in Raytheon Technologies by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 8,575,180 shares of the company’s stock worth $701,964,000 after buying an additional 165,006 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Raytheon Technologies by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 8,070,171 shares of the company’s stock worth $775,626,000 after buying an additional 160,953 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Transactions at Raytheon Technologies

In other news, VP Amy L. Johnson sold 3,622 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $98.55, for a total transaction of $356,948.10. Following the transaction, the vice president now directly owns 4,061 shares in the company, valued at approximately $400,211.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Raytheon Technologies Price Performance

Raytheon Technologies stock opened at $98.08 on Friday. Raytheon Technologies Co. has a 12-month low of $80.27 and a 12-month high of $108.84. The stock has a market capitalization of $143.68 billion, a P/E ratio of 28.02, a P/E/G ratio of 2.34 and a beta of 1.00. The firm’s 50-day moving average is $98.76 and its two-hundred day moving average is $94.49. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.09 and a quick ratio of 0.81.

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 net margin of 7.75% and a return on equity of 9.73%. The company had revenue of $18.09 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same period last year, the company earned $1.08 EPS. The firm’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 has approved a stock buyback plan on Monday, December 12th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Raytheon Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Friday, February 24th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $2.20 annualized dividend and a dividend yield of 2.24%. Raytheon Technologies’s payout ratio is currently 62.86%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RTX. Morgan Stanley cut their price target on shares of Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, January 19th. Citigroup increased their price target on shares of Raytheon Technologies from $104.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. The Goldman Sachs Group downgraded shares of Raytheon Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $115.00 to $105.00 in a report on Friday, January 13th. Wells Fargo & Company increased their price target on shares of Raytheon Technologies from $96.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, January 25th. Finally, Royal Bank of Canada increased their price target on shares of Raytheon Technologies from $107.00 to $110.00 in a report on Wednesday, January 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Raytheon Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $111.17.

About Raytheon Technologies

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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 (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).