5 Best Dividend Stocks According to Thomas Steyer’s Farallon Capital

1. Raytheon Technologies Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 48
Dividend Yield as of January 9: 2.26%

Raytheon Technologies Corporation (NYSE:RTX) is an American defense contractor and industrial company that manufactures and develops radars, sensors, and related products. The company was the tenth-largest holding of Farallon Capital in Q3 and accounted for 2.27% of the fund’s portfolio.

Raytheon Technologies Corporation (NYSE:RTX) presents solid business fundamentals to investors with growing EPS, which leads to higher dividend payments. The company increased its dividend by 7.4% in 2021 and currently pays a quarterly dividend of $0.51 per share.

Recently, Wells Fargo lifted its price target on Raytheon Technologies Corporation (NYSE:RTX) to $97, with an Equal Weight rating on the shares.

In Q3 2021, 48 hedge funds in Insider Monkey’s database reported owning stakes in Raytheon Technologies Corporation (NYSE:RTX), compared with 53 in the previous quarter. These stakes hold a consolidated value of over $2.25 billion, up from $2.1 billion in Q2.

Davis Funds mentioned Raytheon Technologies Corporation (NYSE:RTX) in its Q3 2021 investor letter. Here is what the firm has to say:

“In the industrial space, we own a select list of well-entrenched market leaders, such as Raytheon Technologies in aerospace. These have recovered this year from their lulls in 2020, yet continue to trade at reasonable multiples of subdued earnings, creating a potential setup for the double play of recovering multiples on recovering earnings.”

You can also take a look at 10 Best Dividend Stocks for Passive Income and 10 Best Dividend Paying Stocks to Buy Under $50

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