North American Management Corp Increases Holdings in Raytheon Technologies Co. (NYSE:RTX)

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North American Management Corp lifted its position in shares of Raytheon Technologies Co. (NYSE:RTX) by 17.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,896 shares of the company’s stock after buying an additional 34,833 shares during the period. Raytheon Technologies comprises 2.1% of North American Management Corp’s investment portfolio, making the stock its 20th largest position. North American Management Corp’s holdings in Raytheon Technologies were worth $13,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RTX. Kessler Investment Group LLC purchased a new position in Raytheon Technologies in the 2nd quarter worth approximately $26,000. Financial Management Professionals Inc. purchased a new position in Raytheon Technologies in the 2nd quarter worth approximately $27,000. Harvest Group Wealth Management LLC increased its stake in Raytheon Technologies by 77.6% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock worth $28,000 after purchasing an additional 201 shares during the period. Northwest Investment Counselors LLC purchased a new position in Raytheon Technologies in the 3rd quarter worth approximately $30,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Raytheon Technologies in the 2nd quarter worth approximately $31,000. 74.47% of the stock is currently owned by institutional investors.

A number of equities analysts have commented on RTX shares. ValuEngine cut Raytheon Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 12th. Credit Suisse Group cut their price objective on Raytheon Technologies from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday. Argus lowered Raytheon Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Royal Bank of Canada cut their price objective on Raytheon Technologies from $69.00 to $66.00 in a research report on Friday, July 17th. Finally, The Goldman Sachs Group upgraded Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a research report on Sunday, September 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $86.06.

Shares of NYSE RTX traded down $0.04 during mid-day trading on Friday, hitting $53.10. 138,993 shares of the stock traded hands, compared to its average volume of 11,087,683. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 1.20. Raytheon Technologies Co. has a 52 week low of $40.72 and a 52 week high of $93.47. The company has a market cap of $81.18 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 1.79 and a beta of 1.23. The stock has a fifty day moving average price of $60.04 and a 200-day moving average price of $62.96.

Raytheon Technologies (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The company had revenue of $15.05 billion for the quarter, compared to analyst estimates of $15.16 billion. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. The firm’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. As a group, sell-side analysts predict that Raytheon Technologies Co. will post 2.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Thursday, November 12th. Raytheon Technologies’s payout ratio is 23.00%.

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.

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

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