Raytheon Technologies Co. (NYSE:RTX) Receives Consensus Recommendation of “Buy” from Brokerages

Raytheon Technologies Co. (NYSE:RTXGet Rating) has earned an average rating of “Buy” from the seventeen brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $110.08.

A number of analysts have weighed in on the stock. StockNews.com cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Cowen lifted their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Wells Fargo & Company dropped their price target on Raytheon Technologies from $97.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 26th. Morgan Stanley boosted their price objective on Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. Finally, Cowen increased their target price on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th.

Shares of RTX stock opened at $97.76 on Thursday. The stock has a market capitalization of $145.39 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 1.89 and a beta of 1.18. Raytheon Technologies has a one year low of $79.00 and a one year high of $106.02. The company’s 50-day simple moving average is $99.84 and its 200-day simple moving average is $92.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 1.16.

Raytheon Technologies (NYSE:RTXGet Rating) last released its earnings results on Tuesday, April 26th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The company had revenue of $15.72 billion for the quarter, compared to the consensus estimate of $15.83 billion. During the same quarter last year, the business posted $0.90 EPS. Raytheon Technologies’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that Raytheon Technologies will post 4.77 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Friday, May 20th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, May 19th. Raytheon Technologies’s payout ratio is 73.12%.

In other news, insider Wesley D. Kremer sold 15,083 shares of the firm’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $93.92, for a total transaction of $1,416,595.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael R. Dumais sold 7,443 shares of the business’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $101.45, for a total transaction of $755,092.35. The disclosure for this sale can be found here. Insiders sold 34,749 shares of company stock valued at $3,344,416 over the last quarter. Insiders own 0.11% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Shore Point Advisors LLC purchased a new position in shares of Raytheon Technologies in the fourth quarter worth approximately $25,000. Stuart Chaussee & Associates Inc. grew its position in Raytheon Technologies by 135.5% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Nauset Wealth Management. LLC acquired a new stake in Raytheon Technologies during the 1st quarter valued at $30,000. Fortis Advisors LLC purchased a new stake in shares of Raytheon Technologies in the third quarter valued at $32,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of Raytheon Technologies in the fourth quarter worth $37,000. 79.56% of the stock is currently 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.

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Analyst Recommendations for Raytheon Technologies (NYSE:RTX)

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