On April 18, 2023 at 10:13:12 ET an unusually large $322.87K block of Call contracts in Raytheon Technologies (RTX) was bought, with a strike price of $105.00 / share, expiring in 59 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.26 sigmas above the mean, placing it in the 99.87th percentile of all recent large trades made in RTX options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 3451 funds or institutions reporting positions in Raytheon Technologies. This is an increase of 158 owner(s) or 4.80% in the last quarter. Average portfolio weight of all funds dedicated to RTX is 0.58%, a decrease of 6.65%. Total shares owned by institutions increased in the last three months by 0.15% to 1,467,784K shares. The put/call ratio of RTX is 0.63, indicating a bullish outlook.

Analyst Price Forecast Suggests 7.97% Upside

As of April 6, 2023, the average one-year price target for Raytheon Technologies is $111.33. The forecasts range from a low of $101.00 to a high of $126.00. The average price target represents an increase of 7.97% from its latest reported closing price of $103.11.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Raytheon Technologies is $73,253MM, an increase of 9.21%. The projected annual non-GAAP EPS is $5.16.

What are Other Shareholders Doing?

Dfpg Investments holds 31K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 18K shares, representing an increase of 43.65%. The firm increased its portfolio allocation in RTX by 69.26% over the last quarter.

Harbour Investment Management holds 22K shares representing 0.00% ownership of the company. No change in the last quarter.

S.A. Mason holds 7K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 7K shares, representing a decrease of 0.12%. The firm decreased its portfolio allocation in RTX by 99.88% over the last quarter.

DGRO – iShares Core Dividend Growth ETF holds 1,979K shares representing 0.14% ownership of the company. In it’s prior filing, the firm reported owning 2,539K shares, representing a decrease of 28.33%. The firm decreased its portfolio allocation in RTX by 20.35% over the last quarter.

AMCPX – AMCAP FUND holds 11,030K shares representing 0.76% ownership of the company. In it’s prior filing, the firm reported owning 7,280K shares, representing an increase of 34.00%. The firm increased its portfolio allocation in RTX by 65.74% over the last quarter.

Raytheon Technologies Declares $0.55 Dividend

On February 3, 2023 the company declared a regular quarterly dividend of $0.55 per share ($2.20 annualized). Shareholders of record as of February 24, 2023 received the payment on March 23, 2023. Previously, the company paid $0.55 per share.

At the current share price of $103.11 / share, the stock’s dividend yield is 2.13%. Looking back five years and taking a sample every week, the average dividend yield has been 2.43%, the lowest has been 1.88%, and the highest has been 5.11%. The standard deviation of yields is 0.43 (n=236).

The current dividend yield is 0.68 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.62. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is -0.25%.

Raytheon Technologies Background Information
(This description is provided by the company.)

Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ? Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ? the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.

See all Raytheon Technologies regulatory filings.

This article originally appeared on Fintel

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