Cowen Increases Raytheon Technologies (NYSE:RTX) Price Target to $120.00

Raytheon Technologies (NYSE:RTX – Get Rating) had its price objective hoisted by investment analysts at Cowen from $115.00 to $120.00 in a note issued to investors on Wednesday, Stock Target Advisor reports. Cowen’s target price suggests a potential upside of 21.00% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. StockNews.com started coverage on Raytheon Technologies in a report on Thursday, March 31st. They set a “buy” rating on the stock. Morgan Stanley upped their target price on Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Wolfe Research upped their price target on Raytheon Technologies from $110.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 16th. Robert W. Baird upped their price target on Raytheon Technologies from $100.00 to $106.00 in a research note on Wednesday, January 26th. Finally, Wells Fargo & Company cut their price target on Raytheon Technologies from $97.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 26th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $107.94.

NYSE:RTX traded down $0.02 during mid-day trading on Wednesday, reaching $99.17. 66,004 shares of the company’s stock traded hands, compared to its average volume of 6,360,426. Raytheon Technologies has a 12-month low of $79.00 and a 12-month high of $106.02. The firm has a market capitalization of $147.79 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 2.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 0.93. The company has a 50 day moving average price of $99.48 and a 200-day moving average price of $92.33.

Raytheon Technologies (NYSE:RTX – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.13. Raytheon Technologies had a return on equity of 8.78% and a net margin of 6.00%. The company had revenue of $15.72 billion for the quarter, compared to the consensus estimate of $15.83 billion. During the same quarter in the previous year, the business earned $0.90 EPS. Raytheon Technologies’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Raytheon Technologies will post 4.79 EPS for the current year.

In other Raytheon Technologies news, insider Wesley D. Kremer sold 15,083 shares of the stock in a transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tracy A. Atkinson sold 5,340 shares of the firm’s stock in a transaction dated Friday, February 18th. The shares were 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. Insiders sold a total of 34,749 shares of company stock valued at $3,344,416 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Shore Point Advisors LLC bought a new position in shares of Raytheon Technologies in the 4th quarter valued at about $25,000. Stuart Chaussee & Associates Inc. lifted its holdings in shares of Raytheon Technologies by 135.5% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Fortis Advisors LLC bought a new position in shares of Raytheon Technologies in the 3rd quarter valued at about $32,000. Arcadia Investment Management Corp MI bought a new position in shares of Raytheon Technologies in the 4th quarter valued at about $37,000. Finally, Bellwether Advisors LLC lifted its stake in Raytheon Technologies by 72.0% in the third quarter. Bellwether Advisors LLC now owns 466 shares of the company’s stock worth $40,000 after purchasing an additional 195 shares during the last quarter. 78.57% of the stock is owned by hedge funds and other institutional investors.

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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