Coastal Investment Advisors Inc. decreased its stake in Raytheon Technologies Co. (NYSE:RTX) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,323 shares of the company’s stock after selling 285 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Raytheon Technologies were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in Raytheon Technologies during the 2nd quarter worth approximately $7,929,593,000. Bank of New York Mellon Corp bought a new stake in shares of Raytheon Technologies during the 2nd quarter valued at $975,282,000. Nuveen Asset Management LLC bought a new stake in shares of Raytheon Technologies during the 2nd quarter valued at $893,868,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Raytheon Technologies during the 2nd quarter valued at $826,942,000. Finally, Davis Selected Advisers bought a new stake in shares of Raytheon Technologies during the 2nd quarter valued at $694,253,000. 74.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RTX stock traded down $0.23 during trading on Friday, reaching $62.57. The company’s stock had a trading volume of 5,864,562 shares, compared to its average volume of 6,801,579. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.91. The company has a market capitalization of $95.59 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 1.79 and a beta of 1.23. The stock’s 50-day moving average price is $60.19 and its 200 day moving average price is $63.88. Raytheon Technologies Co. has a 1-year low of $40.72 and a 1-year high of $93.47.

Raytheon Technologies (NYSE:RTX) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.30. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Raytheon Technologies Co. will post 2.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, November 13th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, November 12th. Raytheon Technologies’s dividend payout ratio (DPR) is currently 23.00%.

A number of brokerages have recently issued reports on RTX. Goldman Sachs Group raised shares of Raytheon Technologies from a “buy” rating to a “conviction-buy” rating in a research report on Sunday, September 20th. Morgan Stanley started coverage on shares of Raytheon Technologies in a research note on Tuesday, September 8th. They set an “overweight” rating and a $89.00 target price on the stock. Royal Bank of Canada lowered their target price on shares of Raytheon Technologies from $69.00 to $66.00 in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of Raytheon Technologies from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, ValuEngine cut shares of Raytheon Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Raytheon Technologies has a consensus rating of “Buy” and a consensus target price of $93.83.

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 in four businesses: 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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