Raytheon Technologies (NYSE:RTX – Get Rating) had its target price increased by equity research analysts at Citigroup from $106.00 to $113.50 in a note issued to investors on Wednesday, The Fly reports. Citigroup’s price target would indicate a potential upside of 14.20% from the company’s current price.
Several other equity research analysts have also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Raytheon Technologies from $107.00 to $110.00 in a report on Wednesday, January 25th. StockNews.com initiated coverage on Raytheon Technologies in a report on Thursday, March 16th. They set a “buy” rating on the stock. Jefferies Financial Group cut Raytheon Technologies from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $110.00 in a report on Thursday, April 20th. Wells Fargo & Company boosted their target price on Raytheon Technologies from $96.00 to $107.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 25th. Finally, Susquehanna boosted their target price on Raytheon Technologies from $116.00 to $117.00 in a report on Wednesday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Raytheon Technologies currently has an average rating of “Moderate Buy” and an average target price of $111.88.
Raytheon Technologies Trading Up 1.8 %
RTX stock opened at $99.39 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. Raytheon Technologies has a 12-month low of $80.27 and a 12-month high of $108.84. The stock has a market cap of $145.43 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 2.43 and a beta of 0.99. The business’s 50-day moving average is $99.15 and its 200 day moving average is $97.40.
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.09. Raytheon Technologies has a return on equity of 9.81% and a net margin of 8.08%. The company had revenue of $17.21 billion for the quarter, compared to analysts’ expectations of $16.98 billion. During the same period in the previous year, the firm posted $1.15 EPS. Raytheon Technologies’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Raytheon Technologies will post 5 EPS for the current fiscal year.
Insider Activity at Raytheon Technologies
In related news, VP Amy L. Johnson sold 3,622 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $98.55, for a total value of $356,948.10. Following the transaction, the vice president now directly owns 4,061 shares in the company, valued at $400,211.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by insiders.
Institutional Trading of Raytheon Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. purchased a new stake in Raytheon Technologies in the third quarter valued at approximately $25,000. Private Ocean LLC raised its position in Raytheon Technologies by 65.3% in the third quarter. Private Ocean LLC now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the period. IAG Wealth Partners LLC purchased a new stake in Raytheon Technologies in the first quarter valued at approximately $27,000. GoalVest Advisory LLC raised its position in Raytheon Technologies by 219.8% in the fourth quarter. GoalVest Advisory LLC now owns 291 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Finally, James Investment Research Inc. purchased a new stake in Raytheon Technologies in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.
Raytheon Technologies Company Profile
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Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).
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