Hartford Financial Management Inc. Grows Position in Raytheon Technologies Co. (NYSE:RTX)

Share on StockTwits

Hartford Financial Management Inc. grew its stake in shares of Raytheon Technologies Co. (NYSE:RTX) by 2.7% in the third quarter, HoldingsChannel.com reports. The firm owned 43,772 shares of the company’s stock after buying an additional 1,144 shares during the quarter. Hartford Financial Management Inc.’s holdings in Raytheon Technologies were worth $2,519,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RTX. Procyon Private Wealth Partners LLC bought a new position in shares of Raytheon Technologies during the first quarter valued at approximately $173,000. Cramer Rosenthal Mcglynn LLC bought a new position in shares of Raytheon Technologies during the first quarter valued at approximately $2,574,000. Capital Bank & Trust Co bought a new position in shares of Raytheon Technologies during the first quarter valued at approximately $8,271,000. Sawgrass Asset Management LLC bought a new position in shares of Raytheon Technologies during the first quarter valued at approximately $1,285,000. Finally, Capital International Investors bought a new position in shares of Raytheon Technologies during the first quarter valued at approximately $1,091,668,000. 74.47% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on RTX. Vertical Research upgraded Raytheon Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $52.00 to $77.00 in a report on Friday, July 10th. Morgan Stanley began coverage on Raytheon Technologies in a report on Tuesday, September 8th. They set an “overweight” rating and a $89.00 target price for the company. ValuEngine downgraded Raytheon Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 12th. Royal Bank of Canada decreased their price objective on Raytheon Technologies from $69.00 to $66.00 in a report on Friday, July 17th. Finally, Goldman Sachs Group upgraded Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a report on Sunday, September 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Raytheon Technologies has an average rating of “Buy” and a consensus target price of $93.83.

Shares of NYSE RTX traded up $1.26 during trading on Friday, reaching $61.75. The company had a trading volume of 8,287,997 shares, compared to its average volume of 11,141,345. Raytheon Technologies Co. has a 12-month low of $40.72 and a 12-month high of $93.47. The stock has a market cap of $94.33 billion, a PE ratio of 7.48, a P/E/G ratio of 1.63 and a beta of 1.22. The business’s 50-day moving average is $60.19 and its 200 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 released its earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.30. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. The firm had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Raytheon Technologies’s quarterly revenue was up 24.1% on a year-over-year basis. On average, analysts anticipate that Raytheon Technologies Co. will post 3.1 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, November 13th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.08%. Raytheon Technologies’s dividend payout ratio is currently 23.00%.

About Raytheon Technologies

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.

Featured Article: How to use beta for portfolio diversification

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:RTX).

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.