Raytheon Technologies Co. (NYSE:RTX) Receives $105.15 Consensus Target Price from Brokerages

Shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) have received an average rating of “Buy” from the eighteen analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $105.15.

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their target price on Raytheon Technologies from $97.00 to $96.00 and set an “equal weight” rating for the company in a report on Wednesday, January 26th. Robert W. Baird upped their target price on Raytheon Technologies from $100.00 to $106.00 in a report on Wednesday, January 26th. StockNews.com assumed coverage on Raytheon Technologies in a report on Thursday, March 31st. They issued a “buy” rating for the company. Royal Bank of Canada assumed coverage on Raytheon Technologies in a report on Friday, April 8th. They issued an “outperform” rating and a $125.00 target price for the company. Finally, Barclays upped their target price on Raytheon Technologies from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Thursday, March 10th.

In other Raytheon Technologies news, insider Wesley D. Kremer sold 15,083 shares of the stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $93.92, for a total value of $1,416,595.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tracy A. Atkinson sold 5,340 shares of the stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $93.63, for a total value of $499,984.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,749 shares of company stock worth $3,344,416. 0.11% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in RTX. Norges Bank bought a new position in Raytheon Technologies in the fourth quarter worth approximately $1,277,246,000. Capital Research Global Investors boosted its holdings in Raytheon Technologies by 13.4% in the fourth quarter. Capital Research Global Investors now owns 59,603,906 shares of the company’s stock worth $5,129,511,000 after acquiring an additional 7,030,375 shares in the last quarter. Capital World Investors lifted its holdings in shares of Raytheon Technologies by 48.5% in the fourth quarter. Capital World Investors now owns 6,874,082 shares of the company’s stock valued at $591,583,000 after purchasing an additional 2,244,470 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Raytheon Technologies by 33.1% in the fourth quarter. Alliancebernstein L.P. now owns 8,879,745 shares of the company’s stock valued at $764,191,000 after purchasing an additional 2,210,486 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Raytheon Technologies by 13.7% in the third quarter. Invesco Ltd. now owns 17,788,165 shares of the company’s stock valued at $1,529,070,000 after purchasing an additional 2,149,110 shares in the last quarter. Institutional investors and hedge funds own 78.57% of the company’s stock.

Shares of RTX stock traded up $0.90 on Friday, hitting $104.27. 4,027,391 shares of the company’s stock were exchanged, compared to its average volume of 5,130,099. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 0.93. Raytheon Technologies has a 12 month low of $76.07 and a 12 month high of $104.98. The stock has a market cap of $155.39 billion, a P/E ratio of 40.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. The company has a 50 day moving average of $98.46 and a 200 day moving average of $91.67.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its quarterly earnings data on Tuesday, January 25th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. Raytheon Technologies had a return on equity of 8.78% and a net margin of 6.00%. The business had revenue of $17.04 billion during the quarter, compared to the consensus estimate of $17.28 billion. During the same period in the prior year, the company earned $0.74 EPS. Raytheon Technologies’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts predict that Raytheon Technologies will post 4.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Investors of record on Friday, February 25th were given a dividend of $0.51 per share. The ex-dividend date was Thursday, February 24th. This represents a $2.04 annualized dividend and a dividend yield of 1.96%. Raytheon Technologies’s payout ratio is 79.38%.

Raytheon Technologies Company Profile (Get Rating)

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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