Checchi Capital Advisers LLC Increases Stock Holdings in Raytheon Technologies Co. (NYSE:RTX)

Checchi Capital Advisers LLC lifted its stake in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 8.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 11,790 shares of the company’s stock after purchasing an additional 889 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Raytheon Technologies were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Successful Portfolios LLC raised its stake in shares of Raytheon Technologies by 1.9% in the first quarter. Successful Portfolios LLC now owns 5,075 shares of the company’s stock worth $503,000 after buying an additional 97 shares during the period. Prosperity Consulting Group LLC raised its stake in shares of Raytheon Technologies by 0.9% in the first quarter. Prosperity Consulting Group LLC now owns 11,290 shares of the company’s stock worth $1,118,000 after buying an additional 103 shares during the period. Naples Global Advisors LLC raised its stake in Raytheon Technologies by 0.3% during the 1st quarter. Naples Global Advisors LLC now owns 36,950 shares of the company’s stock valued at $3,661,000 after purchasing an additional 111 shares during the period. Blue Chip Partners Inc. raised its stake in Raytheon Technologies by 0.4% during the 4th quarter. Blue Chip Partners Inc. now owns 25,783 shares of the company’s stock valued at $2,219,000 after purchasing an additional 112 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Raytheon Technologies by 0.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 15,731 shares of the company’s stock valued at $1,354,000 after purchasing an additional 113 shares during the period. Institutional investors own 79.56% of the company’s stock.

Raytheon Technologies Price Performance

Shares of Raytheon Technologies stock opened at $93.03 on Friday. The stock has a market cap of $137.36 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 1.10. The stock has a 50 day moving average price of $93.78 and a 200-day moving average price of $95.50. Raytheon Technologies Co. has a one year low of $79.00 and a one year high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its earnings results on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. Raytheon Technologies had a return on equity of 9.48% and a net margin of 6.84%. The firm had revenue of $16.31 billion during the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts expect that Raytheon Technologies Co. will post 4.68 EPS for the current year.

Raytheon Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, August 18th. Raytheon Technologies’s payout ratio is currently 73.58%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RTX shares. StockNews.com raised Raytheon Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Cowen lifted their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Argus raised their price target on Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Vertical Research cut their price target on Raytheon Technologies to $120.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Finally, Royal Bank of Canada began coverage on Raytheon Technologies in a report on Friday, April 8th. They set an “outperform” rating and a $125.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.10.

Raytheon Technologies Company Profile

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

Further Reading

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

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