RTX Stock – Short Interest in Raytheon Technologies Co. (NYSE:RTX) Drops By 20.5%
Raytheon Technologies Co. (NYSE:RTX) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 13,610,000 shares, a decrease of 20.5% from the March 15th total of 17,110,000 shares. Based on an average daily volume of 7,350,000 shares, the short-interest ratio is presently 1.9 days. Approximately 0.9% of the company’s shares are sold short.
RTX opened at $78.22 on Friday. Raytheon Technologies has a fifty-two week low of $51.13 and a fifty-two week high of $80.06. The business has a 50-day moving average of $76.85 and a 200-day moving average of $69.84. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.22 and a quick ratio of 0.95. The company has a market capitalization of $118.85 billion, a PE ratio of -67.43, a price-to-earnings-growth ratio of 1.67 and a beta of 1.39.
Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings results on Monday, January 25th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. The company had revenue of $16.42 billion during the quarter, compared to the consensus estimate of $16.07 billion. Raytheon Technologies had a positive return on equity of 8.35% and a negative net margin of 3.77%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $1.16 EPS. On average, equities research analysts expect that Raytheon Technologies will post 3.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Friday, February 26th were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, February 25th. Raytheon Technologies’s dividend payout ratio is 23.00%.
Several brokerages have recently commented on RTX. Zacks Investment Research raised Raytheon Technologies from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a report on Friday, January 29th. Susquehanna Bancshares upped their target price on Raytheon Technologies from $83.00 to $91.00 and gave the company a “positive” rating in a report on Monday, April 12th. Credit Suisse Group upped their target price on Raytheon Technologies from $81.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Wolfe Research began coverage on Raytheon Technologies in a report on Thursday. They set an “outperform” rating and a $97.00 target price for the company. Finally, Susquehanna upped their target price on Raytheon Technologies from $83.00 to $91.00 and gave the company a “positive” rating in a report on Monday, April 12th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Raytheon Technologies presently has a consensus rating of “Buy” and a consensus price target of $82.07.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Dodge & Cox increased its holdings in shares of Raytheon Technologies by 29.0% during the 4th quarter. Dodge & Cox now owns 39,109,917 shares of the company’s stock valued at $2,796,750,000 after acquiring an additional 8,787,122 shares during the last quarter. Morgan Stanley lifted its position in shares of Raytheon Technologies by 6.0% during the 4th quarter. Morgan Stanley now owns 22,214,052 shares of the company’s stock worth $1,588,525,000 after buying an additional 1,254,307 shares during the period. Clearbridge Investments LLC raised its position in Raytheon Technologies by 1.7% in the 4th quarter. Clearbridge Investments LLC now owns 21,713,023 shares of the company’s stock valued at $1,552,698,000 after purchasing an additional 361,989 shares during the last quarter. Norges Bank bought a new position in Raytheon Technologies in the 4th quarter valued at $1,089,275,000. Finally, Charles Schwab Investment Management Inc. raised its position in Raytheon Technologies by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,383,926 shares of the company’s stock valued at $957,083,000 after purchasing an additional 42,153 shares during the last quarter. 75.09% of the stock is currently owned by institutional investors and hedge funds.
Raytheon Technologies Company Profile
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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