Raytheon Technologies (NYSE:RTX) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Raytheon Technologies (NYSE:RTXGet Rating) from a hold rating to a buy rating in a report issued on Wednesday.

Other analysts also recently issued research reports about the company. Cowen boosted their price objective on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Wolfe Research boosted their price objective on Raytheon Technologies from $110.00 to $111.00 and gave the stock an outperform rating in a research note on Wednesday, February 16th. Morgan Stanley boosted their price objective on Raytheon Technologies from $118.00 to $124.00 and gave the stock an overweight rating in a research note on Wednesday, March 2nd. Robert W. Baird boosted their price objective on Raytheon Technologies from $100.00 to $106.00 in a research note on Wednesday, January 26th. Finally, Argus boosted their target price on Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $111.33.

Shares of RTX stock opened at $90.08 on Wednesday. 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 has a 1 year low of $79.00 and a 1 year high of $106.02. The stock has a fifty day moving average of $98.28 and a two-hundred day moving average of $92.79. The firm has a market capitalization of $133.97 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share (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 during the quarter, compared to analyst estimates of $15.83 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that Raytheon Technologies will post 4.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Friday, May 20th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.44%. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, May 19th. Raytheon Technologies’s payout ratio is presently 78.85%.

In related news, EVP Michael R. Dumais sold 7,443 shares of the company’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $101.45, for a total transaction of $755,092.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael R. Dumais sold 6,883 shares of the business’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $97.74, for a total value of $672,744.42. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Shore Point Advisors LLC purchased a new position in Raytheon Technologies in the fourth quarter valued at about $25,000. Stuart Chaussee & Associates Inc. boosted its stake in shares of 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 acquiring an additional 149 shares in the last quarter. Nauset Wealth Management. LLC bought a new stake in shares of Raytheon Technologies during the 1st quarter worth about $30,000. Fortis Advisors LLC bought a new stake in shares of Raytheon Technologies during the 3rd quarter worth about $32,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of Raytheon Technologies during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 79.56% of the company’s stock.

About Raytheon Technologies (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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