Asset Planning Services Inc. LA ADV Makes New Investment in Raytheon Technologies Corp (NYSE:RTX)
Asset Planning Services Inc. LA ADV purchased a new position in Raytheon Technologies Corp (NYSE:RTX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,996 shares of the company’s stock, valued at approximately $2,526,000. Raytheon Technologies makes up approximately 1.8% of Asset Planning Services Inc. LA ADV’s investment portfolio, making the stock its 28th biggest holding.
A number of other hedge funds also recently made changes to their positions in the business. Capital Research Global Investors purchased a new stake in Raytheon Technologies in the 1st quarter worth $1,786,892,000. Capital International Investors purchased a new stake in Raytheon Technologies in the 1st quarter worth $1,091,668,000. Macquarie Group Ltd. raised its position in shares of Raytheon Technologies by 4.8% during the 4th quarter. Macquarie Group Ltd. now owns 4,302,559 shares of the company’s stock valued at $945,445,000 after buying an additional 197,587 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Raytheon Technologies by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 4,090,735 shares of the company’s stock valued at $896,973,000 after buying an additional 183,628 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Raytheon Technologies by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 3,859,168 shares of the company’s stock valued at $848,012,000 after buying an additional 29,050 shares in the last quarter. Institutional investors and hedge funds own 78.95% of the company’s stock.
RTX has been the topic of several recent research reports. Cfra decreased their target price on shares of Raytheon Technologies from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. ValuEngine raised shares of Raytheon Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein started coverage on shares of Raytheon Technologies in a research report on Tuesday, April 7th. They issued a “market perform” rating and a $62.00 price objective on the stock. Barclays reissued a “buy” rating and issued a $70.00 price objective on shares of Raytheon Technologies in a research report on Thursday, April 9th. Finally, Credit Suisse Group reduced their price objective on shares of Raytheon Technologies from $101.45 to $81.00 and set an “outperform” rating on the stock in a research report on Monday, April 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Raytheon Technologies currently has an average rating of “Buy” and an average price target of $95.94.
Raytheon Technologies (NYSE:RTX) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.67. Raytheon Technologies had a net margin of 5.34% and a return on equity of 16.36%. The firm had revenue of $18.21 billion for the quarter, compared to the consensus estimate of $17.03 billion. During the same period last year, the firm earned $1.91 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts predict that Raytheon Technologies Corp will post 3.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.14%. Raytheon Technologies’s dividend payout ratio is presently 23.00%.
Raytheon Technologies Company Profile
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for 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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