Raytheon Technologies Co. (NYSE:RTX) Short Interest Update – MarketBeat

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Raytheon Technologies Co. (NYSE:RTX – Get Rating) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 8,350,000 shares, an increase of 17.9% from the October 31st total of 7,080,000 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 4,970,000 shares, the days-to-cover ratio is presently 1.7 days.

Analysts Set New Price Targets

Several brokerages have issued reports on RTX. Wolfe Research started coverage on Raytheon Technologies in a research report on Monday, October 10th. They set a “peer perform” rating on the stock. Royal Bank of Canada reduced their target price on shares of Raytheon Technologies from $107.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Robert W. Baird lowered their price target on shares of Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating on the stock in a report 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 for the company in a research note on Wednesday, October 26th. Finally, Wells Fargo & Company lowered 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.73.

Raytheon Technologies Stock Performance

Shares of NYSE:RTX traded up $1.51 on Friday, hitting $101.01. 4,339,654 shares of the company were exchanged, compared to its average volume of 3,944,335. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $90.93 and its 200 day moving average price is $91.76. Raytheon Technologies has a 1-year low of $79.69 and a 1-year high of $106.02. The firm has a market capitalization of $148.49 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07.
Raytheon Technologies (NYSE:RTX – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10. Raytheon Technologies had a return on equity of 9.36% and a net margin of 6.76%. The business had revenue of $16.95 billion for the quarter, compared to analyst estimates of $17.25 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts predict that Raytheon Technologies will post 4.76 EPS for the current year.

Raytheon Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 18th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, November 17th. Raytheon Technologies’s dividend payout ratio is currently 73.33%.

Insider Transactions at Raytheon Technologies

In other Raytheon Technologies news, EVP Dantaya M. Williams sold 1,206 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $92.01, for a total value of $110,964.06. Following the completion of the sale, the executive vice president now directly owns 10,596 shares in the company, valued at approximately $974,937.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Raytheon Technologies news, insider Shane G. Eddy sold 3,343 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $95.53, for a total transaction of $319,356.79. Following the transaction, the insider now owns 24,176 shares of the company’s stock, valued at approximately $2,309,533.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 1,206 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $92.01, for a total transaction of $110,964.06. Following the completion of the sale, the executive vice president now directly owns 10,596 shares of the company’s stock, valued at approximately $974,937.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,246 shares of company stock valued at $590,280. 0.11% of the stock is currently owned by company insiders.

Institutional Trading of Raytheon Technologies

A number of hedge funds have recently modified their holdings of RTX. Vanguard Group Inc. boosted its position in Raytheon Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 123,174,905 shares of the company’s stock worth $10,083,098,000 after purchasing an additional 760,968 shares in the last quarter. Capital Research Global Investors grew its position in Raytheon Technologies by 13.8% during the first quarter. Capital Research Global Investors now owns 67,841,435 shares of the company’s stock valued at $6,721,059,000 after buying an additional 8,237,529 shares during the period. Capital International Investors increased its holdings in Raytheon Technologies by 12.1% in the first quarter. Capital International Investors now owns 41,171,497 shares of the company’s stock valued at $4,079,206,000 after buying an additional 4,436,749 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Raytheon Technologies by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 16,102,238 shares of the company’s stock worth $1,595,249,000 after acquiring an additional 1,701,541 shares during the period. Finally, Capital World Investors boosted its stake in shares of Raytheon Technologies by 32.8% during the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after acquiring an additional 2,256,475 shares in the last quarter. Hedge funds and other institutional investors own 79.89% of the company’s stock.

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.

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