Insider Selling: Raytheon Technologies Co. (NYSE:RTX) CEO Sells 4260 Shares of Stock – MarketBeat
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Raytheon Technologies Co. (NYSE:RTX – Get Rating) CEO Gregory Hayes sold 4,260 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $99.16, for a total transaction of $422,421.60. Following the transaction, the chief executive officer now owns 453,685 shares of the company’s stock, valued at $44,987,404.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Raytheon Technologies Trading Down 1.9 %
Shares of RTX traded down $1.95 during trading hours on Tuesday, reaching $98.73. 3,800,642 shares of the company traded hands, compared to its average volume of 5,348,812. Raytheon Technologies Co. has a 12 month low of $79.69 and a 12 month high of $106.02. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average price is $91.32 and its two-hundred day moving average price is $91.81. The company has a market capitalization of $145.14 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.24 and a beta of 1.07.
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.11 by $0.10. Raytheon Technologies had a net margin of 6.76% and a return on equity of 9.36%. The business had revenue of $16.95 billion for the quarter, compared to analyst estimates of $17.25 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Raytheon Technologies’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that Raytheon Technologies Co. will post 4.76 earnings per share for the current fiscal year.
Raytheon Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, November 17th. This represents a $2.20 annualized dividend and a dividend yield of 2.23%. Raytheon Technologies’s payout ratio is 73.33%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on RTX. Morgan Stanley lowered their price target on shares of Raytheon Technologies from $124.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Royal Bank of Canada reduced their price objective on shares of Raytheon Technologies from $107.00 to $102.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Credit Suisse Group reduced their price objective on shares of Raytheon Technologies from $85.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 26th. Wolfe Research assumed coverage on shares of Raytheon Technologies in a research note on Monday, October 10th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Raytheon Technologies from $98.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.73.
Institutional Trading of Raytheon Technologies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Leisure Capital Management boosted its position in shares of Raytheon Technologies by 2.9% in the third quarter. Leisure Capital Management now owns 3,757 shares of the company’s stock worth $308,000 after purchasing an additional 105 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its position in shares of Raytheon Technologies by 6.6% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 1,723 shares of the company’s stock worth $141,000 after purchasing an additional 107 shares during the period. Beaird Harris Wealth Management LLC boosted its position in shares of Raytheon Technologies by 7.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,655 shares of the company’s stock worth $164,000 after purchasing an additional 109 shares during the period. Jacobi Capital Management LLC boosted its position in shares of Raytheon Technologies by 0.5% during the second quarter. Jacobi Capital Management LLC now owns 22,971 shares of the company’s stock worth $2,208,000 after acquiring an additional 110 shares during the last quarter. Finally, BRYN MAWR TRUST Co increased its holdings in Raytheon Technologies by 0.4% in the 2nd quarter. BRYN MAWR TRUST Co now owns 26,433 shares of the company’s stock valued at $2,540,000 after acquiring an additional 110 shares during the last quarter. 79.89% of the stock is owned by hedge funds and other institutional investors.
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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