Lyell Wealth Management LP purchased a new stake in Raytheon Technologies Corp (NYSE:RTX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,868 shares of the company’s stock, valued at approximately $3,566,000.

Several other hedge funds have also recently made changes to their positions in the company. TradeLink Capital LLC purchased a new position in shares of Raytheon Technologies in the second quarter valued at $306,000. Washington Trust Bank purchased a new stake in Raytheon Technologies during the 2nd quarter worth about $336,000. Penn Davis Mcfarland Inc. purchased a new stake in Raytheon Technologies during the 2nd quarter worth about $4,500,000. Chartwell Investment Partners LLC purchased a new stake in Raytheon Technologies during the 2nd quarter worth about $1,434,000. Finally, State of Michigan Retirement System purchased a new stake in Raytheon Technologies during the 2nd quarter worth about $60,362,000. Institutional investors and hedge funds own 78.95% of the company’s stock.

Raytheon Technologies stock traded down $0.78 during midday trading on Friday, hitting $56.68. 11,445,378 shares of the company were exchanged, compared to its average volume of 8,218,439. The company’s fifty day moving average price is $62.31 and its 200-day moving average price is $110.62. The company has a market cap of $49.09 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 0.87. Raytheon Technologies Corp has a fifty-two week low of $40.72 and a fifty-two week high of $93.47.

Raytheon Technologies (NYSE:RTX) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.10 by $0.30. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.39 billion. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, analysts expect that Raytheon Technologies Corp will post 3.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.90 annualized dividend and a yield of 3.35%. Raytheon Technologies’s dividend payout ratio is presently 23.00%.

A number of analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Raytheon Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 11th. TheStreet cut Raytheon Technologies from a “b” rating to a “c” rating in a research report on Wednesday, May 13th. Argus cut Raytheon Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Raytheon Technologies from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Vertical Research upgraded Raytheon Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $52.00 to $77.00 in a report on Friday, July 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Raytheon Technologies presently has a consensus rating of “Buy” and a consensus target price of $94.47.

About Raytheon Technologies

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

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