Brookstone Capital Management Has $4.37 Million Stock Holdings in Raytheon Technologies Co. (NYSE:RTX)

Brookstone Capital Management decreased its holdings in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,689 shares of the company’s stock after selling 2,436 shares during the quarter. Brookstone Capital Management’s holdings in Raytheon Technologies were worth $4,374,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Cantor Fitzgerald Investment Advisor L.P increased its position in shares of Raytheon Technologies by 94.5% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after purchasing an additional 156,550 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Raytheon Technologies by 9.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after purchasing an additional 931 shares in the last quarter. Ironwood Wealth Management LLC. increased its position in shares of Raytheon Technologies by 1.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after purchasing an additional 128 shares in the last quarter. AMI Investment Management Inc. increased its position in shares of Raytheon Technologies by 53.1% during the 1st quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock worth $3,517,000 after purchasing an additional 12,316 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Raytheon Technologies by 1.4% during the 1st quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Raytheon Technologies Stock Down 2.4 %

Raytheon Technologies stock opened at $95.75 on Friday. The company’s 50 day simple moving average is $98.62 and its 200 day simple moving average is $94.54. Raytheon Technologies Co. has a fifty-two week low of $80.27 and a fifty-two week high of $108.84. The firm has a market capitalization of $140.10 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.36 and a beta of 1.00. 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 data on Tuesday, January 24th. The company reported $1.27 earnings per share 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 business had revenue of $18.09 billion for the quarter, compared to analyst estimates of $18.16 billion. During the same quarter last year, the firm earned $1.08 EPS. Raytheon Technologies’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Raytheon Technologies Co. will post 5 EPS for the current year.

Raytheon Technologies announced that its board has initiated a share 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 purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Raytheon Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, February 23rd. Raytheon Technologies’s payout ratio is currently 62.86%.

Insider Buying and Selling at Raytheon Technologies

In other Raytheon Technologies news, VP Amy L. Johnson sold 3,622 shares of Raytheon Technologies 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 transaction, the vice president now owns 4,061 shares of the company’s stock, valued at $400,211.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Raytheon Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $115.00 to $105.00 in a research report on Friday, January 13th. Credit Suisse Group raised their price objective on shares of Raytheon Technologies from $103.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 25th. JPMorgan Chase & Co. raised their target price on shares of Raytheon Technologies from $102.00 to $107.00 and gave the company an “overweight” rating in a research note on Monday, December 12th. Wells Fargo & Company raised their target price on shares of Raytheon Technologies from $96.00 to $107.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 25th. Finally, Citigroup raised their target price on shares of Raytheon Technologies from $104.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Raytheon Technologies currently has an average rating of “Moderate Buy” and an average price target of $111.17.

About Raytheon Technologies

(Get Rating)

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).