Raytheon Technologies (NYSE:RTX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Raytheon Technologies (NYSE:RTX – Get Rating) in a research note published on Thursday. The firm issued a buy rating on the stock.

Several other equities analysts have also commented on RTX. The Goldman Sachs Group lowered Raytheon Technologies from a buy rating to a neutral rating and reduced their price target for the stock from $115.00 to $105.00 in a research report on Friday, January 13th. Citigroup upped their price objective on Raytheon Technologies from $104.00 to $106.00 and gave the stock a neutral rating in a research note on Thursday, January 26th. Credit Suisse Group increased their price target on Raytheon Technologies from $103.00 to $106.00 and gave the stock a neutral rating in a research note on Wednesday, January 25th. Morgan Stanley cut their price objective on Raytheon Technologies from $119.00 to $115.00 and set an overweight rating for the company in a report on Thursday, January 19th. Finally, Royal Bank of Canada upped their target price on Raytheon Technologies from $107.00 to $110.00 in a report on Wednesday, January 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $111.17.

Raytheon Technologies Trading Down 2.4 %

NYSE RTX opened at $95.75 on Thursday. The stock has a market capitalization of $140.10 billion, a P/E ratio of 27.36, a PEG ratio of 2.36 and a beta of 1.00. Raytheon Technologies has a 12 month low of $80.27 and a 12 month high of $108.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.09 and a quick ratio of 0.81. The firm’s 50-day moving average is $98.62 and its two-hundred day moving average is $94.54.

Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. The firm had revenue of $18.09 billion for the quarter, compared to analyst estimates of $18.16 billion. Raytheon Technologies had a net margin of 7.75% and a return on equity of 9.73%. Raytheon Technologies’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $1.08 EPS. On average, sell-side analysts anticipate that Raytheon Technologies will post 5 earnings per share for the current year.

Raytheon Technologies announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 12th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Raytheon Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, February 23rd. Raytheon Technologies’s dividend payout ratio (DPR) is presently 62.86%.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 3,622 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 4,061 shares in the company, valued at $400,211.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Raytheon Technologies

Several hedge funds have recently modified their holdings of RTX. Cantor Fitzgerald Investment Advisor L.P grew its stake in Raytheon Technologies by 94.5% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock valued at $31,918,000 after buying an additional 156,550 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Raytheon Technologies by 9.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after acquiring an additional 931 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of Raytheon Technologies by 1.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after acquiring an additional 128 shares during the last quarter. AMI Investment Management Inc. lifted its holdings in shares of Raytheon Technologies by 53.1% during the 1st quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock worth $3,517,000 after acquiring an additional 12,316 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Raytheon Technologies by 1.4% during the 1st quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after acquiring an additional 2,000 shares during the last quarter. 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).