Oregon Public Employees Retirement Fund boosted its stake in Raytheon Technologies Co. (NYSE:RTX) by 184.0% in the fourth quarter, Holdings Channel reports. The firm owned 351,319 shares of the company’s stock after purchasing an additional 227,600 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Raytheon Technologies were worth $25,123,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Prestige Wealth Management Group LLC raised its stake in Raytheon Technologies by 12.5% during the third quarter. Prestige Wealth Management Group LLC now owns 7,037 shares of the company’s stock worth $405,000 after acquiring an additional 780 shares in the last quarter. Wells Trecaso Financial Group LLC raised its position in shares of Raytheon Technologies by 7.4% during the third quarter. Wells Trecaso Financial Group LLC now owns 50,490 shares of the company’s stock worth $2,905,000 after purchasing an additional 3,474 shares during the period. Clear Harbor Asset Management LLC raised its position in Raytheon Technologies by 9.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 34,266 shares of the company’s stock valued at $1,972,000 after buying an additional 2,901 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC bought a new position in Raytheon Technologies in the 3rd quarter valued at $265,000. Finally, Pettyjohn Wood & White Inc. grew its stake in shares of Raytheon Technologies by 7.0% during the 3rd quarter. Pettyjohn Wood & White Inc. now owns 57,087 shares of the company’s stock worth $3,285,000 after acquiring an additional 3,737 shares during the period. 75.09% of the stock is owned by institutional investors and hedge funds.

RTX stock traded up $0.31 during trading on Tuesday, hitting $73.31. The company had a trading volume of 99,134 shares, compared to its average volume of 7,410,491. The firm has a market cap of $111.39 billion, a PE ratio of -62.93, a price-to-earnings-growth ratio of 1.67 and a beta of 1.39. Raytheon Technologies Co. has a 1-year low of $40.72 and a 1-year high of $87.41. The firm has a 50-day moving average price of $70.25 and a 200-day moving average price of $65.71. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.45.

Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings results on Monday, January 25th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The business had revenue of $16.42 billion for the quarter, compared to analyst estimates of $16.07 billion. Raytheon Technologies had a positive return on equity of 8.35% and a negative net margin of 3.77%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. Sell-side analysts anticipate that Raytheon Technologies Co. will post 3.01 earnings per share for the current year.

Raytheon Technologies announced that its Board of Directors has approved a stock repurchase plan on Monday, December 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 25th. Stockholders of record on Friday, February 26th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, February 25th. This represents a $1.90 annualized dividend and a dividend yield of 2.59%. Raytheon Technologies’s dividend payout ratio is presently 23.00%.

RTX has been the topic of a number of research reports. DZ Bank raised Raytheon Technologies from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Thursday, December 17th. JPMorgan Chase & Co. lifted their price target on Raytheon Technologies from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 15th. Zacks Investment Research raised Raytheon Technologies from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research note on Friday, January 29th. Finally, Credit Suisse Group decreased their price target on Raytheon Technologies from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Raytheon Technologies has a consensus rating of “Buy” and a consensus target price of $77.22.

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.

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

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