Raytheon Technologies Co. (NYSE:RTX) Plans $0.51 Quarterly Dividend

Raytheon Technologies Co. (NYSE:RTX) declared a quarterly dividend on Wednesday, October 13th, RTT News reports. Investors of record on Friday, November 19th will be paid a dividend of 0.51 per share on Thursday, December 16th. This represents a $2.04 dividend on an annualized basis and a yield of 2.27%.

Raytheon Technologies has a dividend payout ratio of 48.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Raytheon Technologies to earn $4.97 per share next year, which means the company should continue to be able to cover its $1.97 annual dividend with an expected future payout ratio of 39.6%.

NYSE RTX traded down $0.04 during mid-day trading on Wednesday, reaching $89.68. The stock had a trading volume of 3,284,200 shares, compared to its average volume of 6,085,711. The stock has a market cap of $135.23 billion, a PE ratio of 62.31, a price-to-earnings-growth ratio of 1.56 and a beta of 1.45. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.17 and a quick ratio of 0.90. The company has a fifty day moving average price of $85.90 and a 200 day moving average price of $84.91. Raytheon Technologies has a 1 year low of $51.92 and a 1 year high of $91.38.

Raytheon Technologies (NYSE:RTX) last announced its earnings results on Monday, July 26th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $15.88 billion during the quarter, compared to analyst estimates of $15.83 billion. Raytheon Technologies had a net margin of 3.51% and a return on equity of 6.80%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. As a group, equities research analysts expect that Raytheon Technologies will post 4.04 earnings per share for the current year.

In other news, insider Wesley D. Kremer sold 5,512 shares of the company’s stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $86.82, for a total transaction of $478,551.84. Following the sale, the insider now directly owns 73,519 shares in the company, valued at approximately $6,382,919.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Kelly Ortberg sold 60,000 shares of the company’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $85.10, for a total transaction of $5,106,000.00. Following the sale, the director now owns 101,704 shares in the company, valued at $8,655,010.40. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

A hedge fund recently raised its stake in Raytheon Technologies stock. Morgan Stanley raised its position in Raytheon Technologies Co. (NYSE:RTX) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,861,231 shares of the company’s stock after purchasing an additional 1,050,028 shares during the quarter. Morgan Stanley owned 1.58% of Raytheon Technologies worth $2,035,603,000 as of its most recent SEC filing. Institutional investors own 78.21% of the company’s stock.

RTX has been the subject of a number of research reports. Susquehanna boosted their target price on shares of Raytheon Technologies from $97.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Benchmark reiterated a “hold” rating on shares of Raytheon Technologies in a research note on Wednesday, August 25th. Susquehanna Bancshares upped their price objective on Raytheon Technologies from $97.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, July 28th. TheStreet upgraded Raytheon Technologies from a “c+” rating to a “b-” rating in a research note on Tuesday, July 27th. Finally, Argus upgraded Raytheon Technologies from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Thursday, July 29th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Raytheon Technologies presently has a consensus rating of “Buy” and a consensus target price of $97.77.

About Raytheon Technologies

Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems, Pratt and Whitney, Raytheon Intelligence and Space, and Raytheon Missiles and Defense.

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Dividend History for Raytheon Technologies (NYSE:RTX)

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