StockNews.com Lowers Raytheon Technologies (NYSE:RTX) to Hold

StockNews.com cut shares of Raytheon Technologies (NYSE:RTXGet Rating) from a buy rating to a hold rating in a report published on Tuesday.

A number of other equities research analysts also recently weighed in on RTX. Cowen raised their target price on Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Royal Bank of Canada started coverage on Raytheon Technologies in a research note on Friday, April 8th. They issued an outperform rating and a $125.00 price target for the company. Morgan Stanley increased their price target on 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 price target on Raytheon Technologies from $100.00 to $107.00 and gave the company an overweight rating in a research note on Thursday, March 10th. Finally, Robert W. Baird increased their price target on Raytheon Technologies from $100.00 to $106.00 in a research note on Wednesday, January 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $110.08.

Shares of RTX stock opened at $91.92 on Tuesday. The stock’s fifty day moving average price is $98.79 and its two-hundred day moving average price is $92.68. The company has a market cap of $136.70 billion, a PE ratio of 32.95, a P/E/G ratio of 1.83 and a beta of 1.19. Raytheon Technologies has a fifty-two week low of $79.00 and a fifty-two week high of $106.02. 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 issued its earnings results on Tuesday, April 26th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $15.72 billion for the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. On average, equities analysts predict that Raytheon Technologies will post 4.77 EPS for the current fiscal year.

The business also recently announced 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 is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, May 19th. Raytheon Technologies’s dividend payout ratio (DPR) is currently 73.12%.

In other news, Director Tracy A. Atkinson sold 5,340 shares of Raytheon Technologies stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $93.63, for a total value of $499,984.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wesley D. Kremer sold 15,083 shares of Raytheon Technologies stock in a transaction dated Thursday, February 17th. The stock was 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. Over the last ninety days, insiders have sold 34,749 shares of company stock valued at $3,344,416. 0.11% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. NN Investment Partners Holdings N.V. grew its stake in shares of Raytheon Technologies by 372.2% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 305,841 shares of the company’s stock valued at $26,321,000 after buying an additional 241,070 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Raytheon Technologies by 26.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 112,464 shares of the company’s stock valued at $9,678,000 after buying an additional 23,852 shares during the period. National Bank of Canada FI acquired a new stake in shares of Raytheon Technologies in the 4th quarter valued at about $72,853,000. Allied Investment Advisors LLC grew its stake in shares of Raytheon Technologies by 2.1% in the 4th quarter. Allied Investment Advisors LLC now owns 79,851 shares of the company’s stock valued at $6,872,000 after buying an additional 1,664 shares during the period. Finally, Tredje AP fonden boosted its stake in Raytheon Technologies by 28.0% during the 3rd quarter. Tredje AP fonden now owns 137,209 shares of the company’s stock valued at $11,794,000 after purchasing an additional 30,000 shares during the last quarter. 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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