CMH Wealth Management LLC Trims Position in Raytheon Technologies Co. (NYSE:RTX)

CMH Wealth Management LLC lessened its holdings in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,857 shares of the company’s stock after selling 284 shares during the quarter. CMH Wealth Management LLC’s holdings in Raytheon Technologies were worth $3,552,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Ellenbecker Investment Group purchased a new position in shares of Raytheon Technologies during the 1st quarter worth $206,000. LVM Capital Management Ltd. MI lifted its stake in shares of Raytheon Technologies by 8.9% during the 1st quarter. LVM Capital Management Ltd. MI now owns 8,369 shares of the company’s stock worth $829,000 after purchasing an additional 682 shares during the period. Guinness Asset Management LTD lifted its stake in shares of Raytheon Technologies by 3.9% during the 1st quarter. Guinness Asset Management LTD now owns 800,766 shares of the company’s stock worth $79,343,000 after purchasing an additional 30,142 shares during the period. Garrison Bradford & Associates Inc. acquired a new stake in shares of Raytheon Technologies during the 1st quarter worth $209,000. Finally, Traynor Capital Management Inc. acquired a new stake in shares of Raytheon Technologies during the 1st quarter worth $200,000. 79.56% of the stock is currently owned by institutional investors.

Shares of Raytheon Technologies stock opened at $92.56 on Thursday. The business has a 50-day moving average of $95.60 and a 200-day moving average of $94.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 0.88. The company has a market capitalization of $137.66 billion, a PE ratio of 33.18, a P/E/G ratio of 1.85 and a beta of 1.18. Raytheon Technologies Co. has a 1-year low of $79.00 and a 1-year high of $106.02.

Raytheon Technologies (NYSE:RTX – Get Rating) last announced its earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.14. The company had revenue of $15.72 billion during the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. On average, equities analysts expect that Raytheon Technologies Co. will post 4.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.20 annualized dividend and a dividend yield of 2.38%. Raytheon Technologies’s dividend payout ratio is presently 78.85%.

A number of analysts have recently commented on the company. Barclays upped their price objective on Raytheon Technologies from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Thursday, March 10th. Cowen upped their price objective on Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Morgan Stanley increased their price target on Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, March 2nd. Royal Bank of Canada assumed coverage on Raytheon Technologies in a report on Friday, April 8th. They issued an “outperform” rating and a $125.00 price target for the company. Finally, Argus increased their price target on Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.91.

Raytheon Technologies Profile (Get Rating)

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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