Argent Trust Co Raises Stake in Raytheon Technologies Co. (NYSE:RTX)

Argent Trust Co raised its stake in Raytheon Technologies Co. (NYSE:RTX) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,392 shares of the company’s stock after buying an additional 3,152 shares during the quarter. Argent Trust Co’s holdings in Raytheon Technologies were worth $5,903,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RTX. Cypress Capital Management LLC WY grew its stake in Raytheon Technologies by 1.6% in the 1st quarter. Cypress Capital Management LLC WY now owns 7,455 shares of the company’s stock valued at $576,000 after acquiring an additional 120 shares during the last quarter. Wealth Architects LLC grew its stake in Raytheon Technologies by 2.9% in the 1st quarter. Wealth Architects LLC now owns 4,286 shares of the company’s stock valued at $331,000 after acquiring an additional 121 shares during the last quarter. Pointe Capital Management LLC grew its stake in Raytheon Technologies by 0.7% in the 1st quarter. Pointe Capital Management LLC now owns 17,938 shares of the company’s stock valued at $1,386,000 after acquiring an additional 123 shares during the last quarter. Legal Advantage Investments Inc. grew its stake in Raytheon Technologies by 0.7% in the 1st quarter. Legal Advantage Investments Inc. now owns 18,860 shares of the company’s stock valued at $1,457,000 after acquiring an additional 129 shares during the last quarter. Finally, Weybosset Research & Management LLC grew its stake in Raytheon Technologies by 2.5% in the 1st quarter. Weybosset Research & Management LLC now owns 5,329 shares of the company’s stock valued at $412,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 78.40% of the company’s stock.

In related news, EVP Frank R. Jimenez sold 19,713 shares of the stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $82.47, for a total value of $1,625,731.11. Following the completion of the sale, the executive vice president now directly owns 62,221 shares in the company, valued at approximately $5,131,365.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael R. Dumais sold 4,552 shares of the stock in a transaction on Monday, May 24th. The shares were sold at an average price of $86.27, for a total value of $392,701.04. Following the completion of the sale, the executive vice president now owns 74,374 shares of the company’s stock, valued at $6,416,244.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,665 shares of company stock valued at $2,138,790. 0.11% of the stock is owned by insiders.

RTX has been the topic of a number of research reports. Jefferies Financial Group increased their price objective on shares of Raytheon Technologies from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, June 3rd. Susquehanna lifted their price target on shares of Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a report on Wednesday, April 28th. Wolfe Research began coverage on shares of Raytheon Technologies in a research note on Friday, April 9th. They set an “outperform” rating and a $97.00 price objective on the stock. Susquehanna Bancshares lifted their target price on shares of Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a research note on Wednesday, April 28th. Finally, Wells Fargo & Company began coverage on Raytheon Technologies in a research note on Tuesday, May 18th. They set an “equal weight” rating and a $87.00 price target on the stock. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Raytheon Technologies has an average rating of “Buy” and a consensus target price of $90.33.

Shares of RTX stock traded up $0.24 on Friday, reaching $88.49. 67,949 shares of the stock were exchanged, compared to its average volume of 6,997,235. The stock has a market cap of $134.07 billion, a PE ratio of -49.30, a P/E/G ratio of 1.65 and a beta of 1.46. The company has a current ratio of 1.17, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $83.43. Raytheon Technologies Co. has a 1-year low of $51.92 and a 1-year high of $89.98.

Raytheon Technologies (NYSE:RTX) last released its quarterly earnings data on Monday, April 26th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The business had revenue of $15.25 billion during the quarter, compared to the consensus estimate of $15.27 billion. Raytheon Technologies had a positive return on equity of 5.54% and a negative net margin of 4.44%. The business’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. As a group, equities analysts forecast that Raytheon Technologies Co. will post 3.71 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Friday, May 21st will be issued a $0.51 dividend. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, May 20th. Raytheon Technologies’s dividend payout ratio is currently 74.73%.

About Raytheon Technologies

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.

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

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