Raytheon Technologies (NYSE:RTX) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Raytheon Technologies (NYSE:RTXGet Rating) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Other research analysts also recently issued research reports about the stock. Robert W. Baird upped their price objective on shares of Raytheon Technologies from $100.00 to $106.00 in a research note on Wednesday, January 26th. Wolfe Research upped their price objective on shares of Raytheon Technologies from $110.00 to $111.00 and gave the company an outperform rating in a research note on Wednesday, February 16th. Morgan Stanley upped their price objective on shares of Raytheon Technologies from $118.00 to $124.00 and gave the company an overweight rating in a research note on Wednesday, March 2nd. Barclays increased their target price on shares of Raytheon Technologies from $100.00 to $107.00 and gave the stock an overweight rating in a research report on Thursday, March 10th. Finally, Royal Bank of Canada began coverage on shares of Raytheon Technologies in a research report on Friday, April 8th. They set an outperform rating and a $125.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $107.94.

NYSE:RTX opened at $98.08 on Thursday. The firm has a market cap of $146.17 billion, a price-to-earnings ratio of 38.16, a price-to-earnings-growth ratio of 2.08 and a beta of 1.24. The company has a current ratio of 1.19, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $99.66 and its two-hundred day moving average is $92.44. Raytheon Technologies has a 12-month low of $79.00 and a 12-month high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.14. Raytheon Technologies had a net margin of 6.00% and a return on equity of 8.78%. The company had revenue of $15.72 billion during the quarter, compared to the consensus estimate of $15.83 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Raytheon Technologies will post 4.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Friday, May 20th will be given a $0.55 dividend. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $2.20 annualized dividend and a yield of 2.24%. Raytheon Technologies’s dividend payout ratio (DPR) is 79.38%.

In other news, 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 transaction of $499,984.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wesley D. Kremer sold 15,083 shares of the stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $93.92, for a total value of $1,416,595.36. The disclosure for this sale can be found here. Insiders sold 34,749 shares of company stock valued at $3,344,416 in the last ninety days. 0.11% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Shore Point Advisors LLC acquired a new position in shares of Raytheon Technologies during the fourth quarter valued at $25,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Raytheon Technologies by 135.5% during the first 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 period. Nauset Wealth Management. LLC acquired a new position in shares of Raytheon Technologies during the first quarter valued at $30,000. Fortis Advisors LLC acquired a new position in shares of Raytheon Technologies during the third quarter valued at $32,000. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of Raytheon Technologies during the fourth quarter valued at $37,000. 78.57% of the stock is owned by 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.

Featured Articles

Analyst Recommendations for Raytheon Technologies (NYSE:RTX)

Receive News & Ratings for Raytheon Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Technologies and related companies with MarketBeat.com's FREE daily email newsletter.