Raytheon Technologies (NYSE:RTX) Upgraded at StockNews.com

Raytheon Technologies (NYSE:RTXGet Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other research analysts have also recently weighed in on RTX. Cowen boosted their price objective on shares of Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Royal Bank of Canada lowered their price objective on shares of Raytheon Technologies from $125.00 to $115.00 and set a “maintains” rating for the company in a research report on Wednesday, July 27th. Argus upped their target price on Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Wells Fargo & Company cut their price objective on shares of Raytheon Technologies from $106.00 to $98.00 and set a “maintains” rating on the stock in a research report on Wednesday, July 27th. Finally, Cowen upped their price objective on shares of Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.30.

Raytheon Technologies Price Performance

RTX stock opened at $94.53 on Thursday. Raytheon Technologies has a 52 week low of $79.00 and a 52 week high of $106.02. The firm has a market capitalization of $139.57 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. The company has a fifty day simple moving average of $93.90 and a two-hundred day simple moving average of $95.48. The company has a quick ratio of 0.83, a current ratio of 1.10 and a debt-to-equity ratio of 0.43.

Raytheon Technologies (NYSE:RTXGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. Raytheon Technologies had a return on equity of 9.48% and a net margin of 6.84%. The company had revenue of $16.31 billion during the quarter, compared to analyst estimates of $16.61 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Raytheon Technologies will post 4.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Raytheon Technologies

Several institutional investors have recently made changes to their positions in the stock. CWM LLC acquired a new position in Raytheon Technologies during the fourth quarter worth about $2,423,000. Qube Research & Technologies Ltd acquired a new stake in shares of Raytheon Technologies during the fourth quarter worth $4,794,000. Centaurus Financial Inc. grew its position in shares of Raytheon Technologies by 1.2% in the fourth quarter. Centaurus Financial Inc. now owns 10,861 shares of the company’s stock valued at $935,000 after purchasing an additional 134 shares during the period. Pinnacle Financial Partners Inc. increased its stake in Raytheon Technologies by 2.5% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 22,550 shares of the company’s stock valued at $1,941,000 after purchasing an additional 544 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Raytheon Technologies by 1.4% in the 4th quarter. Fifth Third Bancorp now owns 577,191 shares of the company’s stock worth $49,673,000 after buying an additional 8,087 shares during the last quarter. 79.56% of the stock is currently owned by hedge funds and other institutional investors.

About Raytheon Technologies

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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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