Raytheon Technologies Co. (NYSE:RTX) Shares Bought by Brookmont Capital Management

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Brookmont Capital Management raised its holdings in Raytheon Technologies Co. (NYSE:RTX) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,486 shares of the company’s stock after purchasing an additional 478 shares during the quarter. Raytheon Technologies comprises approximately 1.2% of Brookmont Capital Management’s portfolio, making the stock its 28th largest holding. Brookmont Capital Management’s holdings in Raytheon Technologies were worth $1,582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RTX. Kessler Investment Group LLC acquired a new position in Raytheon Technologies in the second quarter valued at $26,000. Financial Management Professionals Inc. acquired a new position in shares of Raytheon Technologies during the second quarter worth about $27,000. Harvest Group Wealth Management LLC increased its stake in shares of Raytheon Technologies by 77.6% during the second quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock worth $28,000 after acquiring an additional 201 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Raytheon Technologies during the second quarter worth about $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Raytheon Technologies during the second quarter worth about $31,000. Institutional investors own 74.47% of the company’s stock.

Shares of NYSE RTX traded up $1.26 on Friday, hitting $61.75. The company’s stock 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 company has a market capitalization of $94.33 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.91. The stock has a 50 day moving average of $60.19 and a 200-day moving average of $65.02.

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

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

A number of research analysts have recently issued reports on RTX shares. JPMorgan Chase & Co. boosted their price target on shares of Raytheon Technologies from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Morgan Stanley began coverage on shares of Raytheon Technologies in a research note on Tuesday, September 8th. They set an “overweight” rating and a $89.00 price target on the stock. Goldman Sachs Group upgraded shares of Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a research report on Sunday, September 20th. ValuEngine lowered shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 12th. Finally, Vertical Research upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $52.00 to $77.00 in a research report on Friday, July 10th. Two investment analysts have rated the stock with a sell rating, five have given 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 price target of $93.83.

Raytheon Technologies Company 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.

Further Reading: What is the Ex-Dividend Date in Investing?

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

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