5 High Beta Dividend Stocks to Buy

4. Raytheon Technologies Corp (NYSE:RTX)

Number of Hedge Fund Holders: 53

Dividend Yield: 2.2%

Beta Value: 1.21

Raytheon Technologies Corporation (NYSE:RTX), an aerospace and defense company, offers systems and services for commercial, military, and government customers.

This September, Morgan Stanley analyst Kristine Liwag kept an Overweight rating on shares of Raytheon Technologies Corporation (NYSE:RTX).

Insider Monkey’s data on 873 hedge funds shows that by the end of the second quarter of 2021, 53 hedge funds held stakes in Raytheon Technologies Corp (NYSE:RTX). The total stake value was $2.1 billion, compared to the $2.5 billion figure in the previous quarter, when 58 hedge funds held stakes in the company.

ClearBridge Investments, an investment management firm, mentioned Raytheon Technologies Corp (NYSE:RTX) in its second-quarter 2021 investor letter. Here’s what they said:

“Broader market leadership was a relative benefit for the ClearBridge Large Cap Value Strategy, which outperformed the Russell 1000 Value Index in the second quarter… Separately, Raytheon Technologies benefited from an improving health outlook that is contributing to a faster than anticipated recovery in air travel, which should drive stronger results for Raytheon’s commercial aerospace business.”