Insider Selling: Raytheon Technologies Co. (NYSE:RTX) Insider Sells 3343 Shares of Stock – MarketBeat

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Raytheon Technologies Co. (NYSE:RTX – Get Rating) insider Shane G. Eddy sold 3,343 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $95.53, for a total transaction of $319,356.79. Following the completion of the sale, the insider now directly owns 24,176 shares of the company’s stock, valued at $2,309,533.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Raytheon Technologies Stock Up 1.0 %

Shares of NYSE:RTX opened at $96.17 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.09. The company has a market cap of $141.38 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07. Raytheon Technologies Co. has a 52 week low of $79.00 and a 52 week high of $106.02. The firm has a 50 day simple moving average of $87.00 and a 200 day simple moving average of $91.59.
Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.11 by $0.10. The business had revenue of $16.95 billion during the quarter, compared to the consensus estimate of $17.25 billion. Raytheon Technologies had a net margin of 6.76% and a return on equity of 9.36%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. As a group, research analysts expect that Raytheon Technologies Co. will post 4.76 earnings per share for the current year.

Raytheon Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 18th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.20 annualized dividend and a yield of 2.29%. Raytheon Technologies’s dividend payout ratio is presently 73.33%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Leisure Capital Management increased its stake in Raytheon Technologies by 2.9% in the 3rd quarter. Leisure Capital Management now owns 3,757 shares of the company’s stock valued at $308,000 after buying an additional 105 shares during the period. Beaird Harris Wealth Management LLC increased its stake in Raytheon Technologies by 7.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,655 shares of the company’s stock valued at $164,000 after buying an additional 109 shares during the period. Jacobi Capital Management LLC increased its stake in Raytheon Technologies by 0.5% in the 2nd quarter. Jacobi Capital Management LLC now owns 22,971 shares of the company’s stock valued at $2,208,000 after buying an additional 110 shares during the period. BRYN MAWR TRUST Co increased its stake in shares of Raytheon Technologies by 0.4% during the 2nd quarter. BRYN MAWR TRUST Co now owns 26,433 shares of the company’s stock worth $2,540,000 after purchasing an additional 110 shares during the last quarter. Finally, Naples Global Advisors LLC increased its stake in shares of Raytheon Technologies by 0.3% during the 1st quarter. Naples Global Advisors LLC now owns 36,950 shares of the company’s stock worth $3,661,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 79.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on RTX shares. Robert W. Baird cut their target price on shares of Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Wells Fargo & Company cut their target price on shares of Raytheon Technologies from $98.00 to $96.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 26th. Wolfe Research started coverage on shares of Raytheon Technologies in a research note on Monday, October 10th. They set a “peer perform” rating for the company. Vertical Research cut their target price on shares of Raytheon Technologies to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Credit Suisse Group cut their target price on shares of Raytheon Technologies from $85.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, October 26th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Raytheon Technologies currently has an average rating of “Moderate Buy” and an average target price of $108.73.

About Raytheon Technologies

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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.

Further Reading

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