FARMERS & MERCHANTS TRUST Co OF LONG BEACH Buys Shares of 16,961 Raytheon Technologies Corp (NYSE:RTX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of Raytheon Technologies Corp (NYSE:RTX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,961 shares of the company’s stock, valued at approximately $1,046,000.

Other hedge funds also recently added to or reduced their stakes in the company. TFG Advisers LLC purchased a new position in Raytheon Technologies during the 4th quarter valued at approximately $25,000. Jacobi Capital Management LLC purchased a new stake in Raytheon Technologies during the second quarter valued at $761,000. Larson Financial Group LLC raised its stake in Raytheon Technologies by 159.3% during the first quarter. Larson Financial Group LLC now owns 280 shares of the company’s stock valued at $37,000 after purchasing an additional 172 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Raytheon Technologies during the first quarter valued at $38,000. Finally, Kessler Investment Group LLC bought a new stake in shares of Raytheon Technologies in the 2nd quarter worth about $26,000. 78.95% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:RTX traded down $0.78 on Friday, reaching $56.68. The stock had a trading volume of 11,445,378 shares, compared to its average volume of 8,218,439. The firm’s fifty day moving average is $62.31 and its two-hundred day moving average is $110.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 0.87. Raytheon Technologies Corp has a 12-month low of $40.72 and a 12-month high of $93.47. The company has a market cap of $49.09 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 1.52 and a beta of 0.85.

Raytheon Technologies (NYSE:RTX) last posted its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.30. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The firm’s revenue was up 24.1% compared to the same quarter last year. As a group, research analysts forecast that Raytheon Technologies Corp will post 3.1 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, August 13th. Raytheon Technologies’s dividend payout ratio (DPR) is 23.00%.

RTX has been the subject of a number of analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $101.00 price target on shares of Raytheon Technologies in a research report on Friday, May 8th. UBS Group assumed coverage on shares of Raytheon Technologies in a research note on Thursday, April 9th. They set a “buy” rating and a $81.00 price objective for the company. ValuEngine raised shares of Raytheon Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Susquehanna Bancshares upped their price target on shares of Raytheon Technologies from $66.00 to $74.00 in a report on Friday, July 17th. Finally, Vertical Research raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $77.00 in a research note on Friday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Raytheon Technologies presently has an average rating of “Buy” and an average target price of $94.47.

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 through four segments: 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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