Royal Bank of Canada Cuts Raytheon Technologies (NYSE:RTX) Price Target to $115.00

Raytheon Technologies (NYSE:RTXGet Rating) had its price objective trimmed by Royal Bank of Canada from $125.00 to $115.00 in a research note issued to investors on Wednesday, The Fly reports.

Several other brokerages also recently weighed in on RTX. Cowen boosted their price objective on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Cowen boosted their price objective on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. StockNews.com upgraded Raytheon Technologies from a hold rating to a buy rating in a research report on Wednesday, May 18th. Finally, Argus boosted their price objective on Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $111.92.

Raytheon Technologies Stock Up 0.0 %

Shares of RTX opened at $90.27 on Wednesday. The firm has a market cap of $134.25 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.89 and a beta of 1.11. The stock has a 50 day simple moving average of $93.74 and a two-hundred day simple moving average of $95.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 0.88. Raytheon Technologies has a 1 year low of $79.00 and a 1 year high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last issued 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. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The business had revenue of $16.31 billion during the quarter, compared to analyst estimates of $16.61 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Raytheon Technologies’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts forecast that Raytheon Technologies will post 4.76 earnings per share for the current fiscal year.

Raytheon Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.44%. Raytheon Technologies’s dividend payout ratio is presently 78.85%.

Hedge Funds Weigh In On Raytheon Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Garrett Investment Advisors LLC raised its holdings in Raytheon Technologies by 6.6% in the first quarter. Garrett Investment Advisors LLC now owns 4,714 shares of the company’s stock worth $467,000 after purchasing an additional 290 shares in the last quarter. Addison Capital Co raised its holdings in Raytheon Technologies by 39.5% in the first quarter. Addison Capital Co now owns 5,180 shares of the company’s stock worth $513,000 after purchasing an additional 1,467 shares in the last quarter. Smithbridge Asset Management Inc. DE raised its holdings in Raytheon Technologies by 2.6% in the first quarter. Smithbridge Asset Management Inc. DE now owns 69,342 shares of the company’s stock worth $6,870,000 after purchasing an additional 1,790 shares in the last quarter. Ieq Capital LLC raised its holdings in Raytheon Technologies by 9.3% in the first quarter. Ieq Capital LLC now owns 48,890 shares of the company’s stock worth $4,844,000 after purchasing an additional 4,172 shares in the last quarter. Finally, Plimoth Trust Co. LLC raised its holdings in Raytheon Technologies by 2.4% in the first quarter. Plimoth Trust Co. LLC now owns 24,575 shares of the company’s stock worth $2,435,000 after purchasing an additional 576 shares in the last quarter. Institutional investors own 79.56% of the company’s stock.

Raytheon Technologies Company Profile

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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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