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

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

Raytheon Technologies logoRaytheon Technologies Co. (NYSE:RTX – Get Rating) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the company, reports Marketbeat.com. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $108.00.

Several equity analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Raytheon Technologies from $102.00 to $107.00 and gave the stock an “overweight” rating in a research report on Monday. Credit Suisse Group reduced their price target on Raytheon Technologies from $85.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 26th. Royal Bank of Canada reduced their price target on Raytheon Technologies from $107.00 to $102.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Robert W. Baird reduced their target price on Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, Morgan Stanley cut their price target on Raytheon Technologies from $124.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th.

Raytheon Technologies Trading Down 1.5 %

Shares of RTX stock opened at $98.49 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.09. Raytheon Technologies has a 1 year low of $79.69 and a 1 year high of $106.02. The stock has a fifty day moving average of $93.86 and a two-hundred day moving average of $92.15. The firm has a market capitalization of $144.79 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.18 and a beta of 1.07.

Want More Great Investment Ideas?

Raytheon Technologies (NYSE:RTX – Get Rating) last announced its earnings results on Tuesday, October 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.10. Raytheon Technologies has a return on equity of 9.36% and a net margin of 6.76%. The company had revenue of $16.95 billion for the quarter, compared to analyst estimates of $17.25 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. Raytheon Technologies’ revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts expect that Raytheon Technologies will post 4.76 EPS for the current year.

Raytheon Technologies declared that its Board of Directors has authorized a stock buyback plan on Monday, December 12th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Raytheon Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Friday, November 18th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.23%. Raytheon Technologies’ dividend payout ratio (DPR) is presently 73.33%.

Insider Activity at Raytheon Technologies

In other news, EVP Dantaya M. Williams sold 1,206 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $92.01, for a total transaction of $110,964.06. Following the completion of the sale, the executive vice president now owns 10,596 shares in the company, valued at approximately $974,937.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Gregory Hayes sold 4,260 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $99.16, for a total transaction of $422,421.60. Following the completion of the sale, the chief executive officer now owns 453,685 shares in the company, valued at approximately $44,987,404.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 1,206 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $92.01, for a total transaction of $110,964.06. Following the sale, the executive vice president now owns 10,596 shares of the company’s stock, valued at approximately $974,937.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,506 shares of company stock valued at $1,012,702. 0.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. FSC Wealth Advisors LLC purchased a new position in Raytheon Technologies in the 3rd quarter valued at approximately $25,000. McClarren Financial Advisors Inc. bought a new stake in Raytheon Technologies in the third quarter worth $25,000. SJS Investment Consulting Inc. purchased a new position in shares of Raytheon Technologies in the third quarter valued at about $26,000. Private Ocean LLC increased its position in shares of Raytheon Technologies by 65.3% during the third quarter. Private Ocean LLC now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the period. Finally, Coston McIsaac & Partners purchased a new stake in Raytheon Technologies in the second quarter worth about $31,000. 79.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

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.