Raytheon Technologies (NYSE:RTX) Rating Increased to Buy at StockNews.com

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

Several other research firms have also recently weighed in on RTX. Cowen upped their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Argus upped their price target on shares of Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Vertical Research decreased their price target on shares of Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Cowen increased their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Finally, Royal Bank of Canada began coverage on Raytheon Technologies in a research note on Friday, April 8th. They issued an “outperform” rating and a $125.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Raytheon Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $114.10.

Raytheon Technologies Trading Up 0.3 %

NYSE:RTX opened at $93.03 on Thursday. The company has a market cap of $137.36 billion, a P/E ratio of 31.11, a P/E/G ratio of 1.94 and a beta of 1.04. The stock’s fifty day moving average price is $93.78 and its two-hundred day moving average price is $95.50. Raytheon Technologies has a 1 year low of $79.00 and a 1 year high of $106.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.10 and a quick ratio of 0.83.

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

Hedge Funds Weigh In On Raytheon Technologies

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Raytheon Technologies by 1.9% during the first quarter. Vanguard Group Inc. now owns 120,699,958 shares of the company’s stock valued at $11,957,745,000 after purchasing an additional 2,236,112 shares during the last quarter. Capital Research Global Investors increased its position in shares of Raytheon Technologies by 13.8% during the first quarter. Capital Research Global Investors now owns 67,841,435 shares of the company’s stock valued at $6,721,059,000 after acquiring an additional 8,237,529 shares in the last quarter. Capital International Investors increased its position in shares of Raytheon Technologies by 12.1% during the first quarter. Capital International Investors now owns 41,171,497 shares of the company’s stock valued at $4,079,206,000 after acquiring an additional 4,436,749 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Raytheon Technologies by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 23,677,266 shares of the company’s stock valued at $2,031,633,000 after acquiring an additional 457,386 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Raytheon Technologies by 11.8% during the first quarter. Bank of New York Mellon Corp now owns 16,102,238 shares of the company’s stock valued at $1,595,249,000 after acquiring an additional 1,701,541 shares in 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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Analyst Recommendations for Raytheon Technologies (NYSE:RTX)

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