Somerset Trust Co Buys 397 Shares of Raytheon Technologies Co. (NYSE:RTX)

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Somerset Trust Co grew its holdings in shares of Raytheon Technologies Co. (NYSE:RTX) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,333 shares of the company’s stock after acquiring an additional 397 shares during the period. Somerset Trust Co’s holdings in Raytheon Technologies were worth $1,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of RTX. Kessler Investment Group LLC bought a new stake in shares of Raytheon Technologies during the 2nd quarter valued at $26,000. Financial Management Professionals Inc. bought a new stake in shares of Raytheon Technologies during the 2nd quarter valued at $27,000. Harvest Group Wealth Management LLC grew its position in shares of Raytheon Technologies by 77.6% during the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock valued at $28,000 after acquiring an additional 201 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Raytheon Technologies during the 2nd quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Raytheon Technologies during the 2nd quarter valued at $31,000. 74.47% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on RTX shares. Credit Suisse Group cut their price objective on shares of Raytheon Technologies from $81.00 to $75.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Vertical Research upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $52.00 to $77.00 in a research note on Friday, July 10th. ValuEngine cut shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 12th. Argus cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Raytheon Technologies from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $93.83.

NYSE:RTX traded up $1.26 during mid-day trading on Friday, hitting $61.75. 8,287,997 shares of the stock traded hands, compared to its average volume of 11,141,345. The stock has a market capitalization of $94.33 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 1.63 and a beta of 1.22. Raytheon Technologies Co. has a 52 week low of $40.72 and a 52 week high of $93.47. The firm’s 50 day moving average is $60.19 and its two-hundred day moving average is $65.02. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.45.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.10 by $0.30. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The firm’s revenue was up 24.1% compared to the same quarter last year. As a group, research analysts predict that Raytheon Technologies Co. will post 3.1 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, November 13th will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.90 annualized dividend and a yield of 3.08%. Raytheon Technologies’s payout ratio is 23.00%.

Raytheon Technologies Profile

Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

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

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