Checchi Capital Advisers LLC Acquires 889 Shares of Raytheon Technologies Co. (NYSE:RTX)

Checchi Capital Advisers LLC increased its holdings in shares of Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,790 shares of the company’s stock after buying an additional 889 shares during the period. Checchi Capital Advisers LLC’s holdings in Raytheon Technologies were worth $1,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in Raytheon Technologies during the fourth quarter valued at approximately $1,277,246,000. Capital Research Global Investors grew its holdings in Raytheon Technologies by 13.4% during the fourth quarter. Capital Research Global Investors now owns 59,603,906 shares of the company’s stock valued at $5,129,511,000 after purchasing an additional 7,030,375 shares during the period. Capital World Investors grew its holdings in Raytheon Technologies by 48.5% during the fourth quarter. Capital World Investors now owns 6,874,082 shares of the company’s stock valued at $591,583,000 after purchasing an additional 2,244,470 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Raytheon Technologies by 33.1% in the fourth quarter. Alliancebernstein L.P. now owns 8,879,745 shares of the company’s stock valued at $764,191,000 after buying an additional 2,210,486 shares during the period. Finally, Eaton Vance Management acquired a new position in shares of Raytheon Technologies in the fourth quarter valued at approximately $162,515,000. 79.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Raytheon Technologies Trading Up 0.3 %

RTX stock opened at $93.03 on Friday. 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 company’s 50-day simple moving average is $93.78 and its 200 day simple moving average is $95.50. Raytheon Technologies Co. has a 52 week low of $79.00 and a 52 week high of $106.02. The company has a market capitalization of $137.36 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

Raytheon Technologies (NYSE:RTX – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. Raytheon Technologies had a net margin of 6.84% and a return on equity of 9.48%. The business had revenue of $16.31 billion for the quarter, compared to the consensus estimate of $16.61 billion. During the same period in the prior year, the company posted $1.03 earnings per share. Raytheon Technologies’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Raytheon Technologies Co. will post 4.68 earnings per share for the current year.

Raytheon Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders 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 dividend on an annualized basis and a yield of 2.36%. Raytheon Technologies’s payout ratio is 73.58%.

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.