Raytheon Technologies Co. (NYSE:RTX) Shares Sold by Barr E S & Co.

Barr E S & Co. trimmed its stake in shares of Raytheon Technologies Co. (NYSE:RTX) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,967 shares of the company’s stock after selling 280 shares during the period. Barr E S & Co.’s holdings in Raytheon Technologies were worth $341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Key Financial Inc grew its stake in Raytheon Technologies by 4.2% in the 3rd quarter. Key Financial Inc now owns 2,851 shares of the company’s stock worth $245,000 after acquiring an additional 114 shares in the last quarter. Sargent Bickham Lagudis LLC grew its holdings in shares of Raytheon Technologies by 4.8% in the third quarter. Sargent Bickham Lagudis LLC now owns 2,491 shares of the company’s stock valued at $214,000 after purchasing an additional 114 shares in the last quarter. ELCO Management Co. LLC lifted its position in shares of Raytheon Technologies by 1.1% during the 2nd quarter. ELCO Management Co. LLC now owns 10,384 shares of the company’s stock worth $886,000 after buying an additional 116 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its position in Raytheon Technologies by 0.3% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 39,279 shares of the company’s stock valued at $3,351,000 after purchasing an additional 117 shares during the last quarter. Finally, Cornell Pochily Investment Advisors Inc. raised its position in Raytheon Technologies by 1.0% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 12,407 shares of the company’s stock worth $1,067,000 after buying an additional 120 shares during the last quarter. 78.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:RTX traded down $0.28 during midday trading on Friday, hitting $91.28. The company’s stock had a trading volume of 59,509 shares, compared to its average volume of 5,277,239. The business’s 50 day simple moving average is $86.35 and its 200 day simple moving average is $86.51. The company has a market cap of $136.63 billion, a P/E ratio of 41.62, a price-to-earnings-growth ratio of 1.40 and a beta of 1.39. Raytheon Technologies Co. has a 12-month low of $65.02 and a 12-month high of $92.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.23.

Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings results on Monday, October 25th. The company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.18. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $16.36 billion. Raytheon Technologies had a net margin of 5.20% and a return on equity of 8.13%. Raytheon Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. On average, sell-side analysts predict that Raytheon Technologies Co. will post 4.19 earnings per share for the current fiscal year.

Raytheon Technologies declared that its board has authorized a share buyback plan on Tuesday, December 7th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Separately, Wells Fargo & Company increased their price objective on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 27th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Raytheon Technologies has an average rating of “Buy” and an average target price of $100.91.

In other news, EVP Michael R. Dumais sold 3,000 shares of the company’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $90.54, for a total transaction of $271,620.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

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

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