Raytheon Technologies Co. (NYSE:RTX) Position Lifted by Webster Bank N. A.

Webster Bank N. A. lifted its position in Raytheon Technologies Co. (NYSE:RTXGet Rating) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,103 shares of the company’s stock after acquiring an additional 2,141 shares during the quarter. Webster Bank N. A.’s holdings in Raytheon Technologies were worth $4,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Raytheon Technologies in the fourth quarter valued at approximately $1,277,246,000. Capital Research Global Investors raised its stake in Raytheon Technologies by 13.4% during the 4th quarter. Capital Research Global Investors now owns 59,603,906 shares of the company’s stock valued at $5,129,511,000 after acquiring an additional 7,030,375 shares in the last quarter. Capital World Investors boosted its position in Raytheon Technologies by 48.5% during the 4th quarter. Capital World Investors now owns 6,874,082 shares of the company’s stock worth $591,583,000 after acquiring an additional 2,244,470 shares during the period. Alliancebernstein L.P. grew its stake 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 worth $764,191,000 after purchasing an additional 2,210,486 shares in the last quarter. Finally, Eaton Vance Management acquired a new position in shares of Raytheon Technologies during the fourth quarter valued at $162,515,000. Institutional investors and hedge funds own 79.56% of the company’s stock.

RTX has been the subject of several recent research reports. Barclays increased their target price on shares of Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday, March 10th. Argus lifted their target price on Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Cowen boosted their target price on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Cowen increased their price target on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Finally, Royal Bank of Canada assumed coverage on shares of Raytheon Technologies in a research note on Friday, April 8th. They set an “outperform” rating and a $125.00 price objective for the company. Two 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.91.

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

Raytheon Technologies (NYSE:RTXGet Rating) last posted its earnings results on Tuesday, April 26th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.01 by $0.14. Raytheon Technologies had a net margin of 6.47% and a return on equity of 9.24%. The firm had revenue of $15.72 billion for the quarter, compared to the consensus estimate of $15.83 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Raytheon Technologies Co. will post 4.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 19th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 18th. Raytheon Technologies’s dividend payout ratio (DPR) is 78.85%.

About Raytheon Technologies (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.

Further Reading

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Technologies Co. (NYSE:RTXGet Rating).

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

Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.