Raytheon Technologies (NYSE:RTX – Get Rating) had its target price trimmed by Vertical Research to $120.00 in a research note issued to investors on Wednesday morning, Stock Target Advisor reports. The brokerage currently has an outperform rating on the stock.
A number of other brokerages have also weighed in on RTX. Wells Fargo & Company reduced their target price on shares of Raytheon Technologies from $106.00 to $98.00 and set an equal weight rating for the company in a research note on Wednesday. Argus increased their price objective on shares of Raytheon Technologies from $100.00 to $112.00 in a research note on Wednesday, April 27th. Royal Bank of Canada reduced their price objective on shares of Raytheon Technologies from $125.00 to $115.00 in a research note on Wednesday. Cowen increased their price objective on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Finally, StockNews.com upgraded shares of Raytheon Technologies from a hold rating to a buy rating in a research note on Wednesday, May 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $111.92.
Raytheon Technologies Price Performance
Shares of NYSE RTX opened at $90.27 on Wednesday. The firm has a market cap of $134.25 billion, a PE ratio of 32.35, a PEG ratio of 1.89 and a beta of 1.11. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. Raytheon Technologies has a 1-year low of $79.00 and a 1-year high of $106.02. The company has a fifty day moving average price of $93.74 and a 200 day moving average price of $95.40.
Raytheon Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be issued a $0.55 dividend. The ex-dividend date is Thursday, August 18th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.44%. Raytheon Technologies’s payout ratio is 78.85%.
Institutional Investors Weigh In On Raytheon Technologies
A number of institutional investors and hedge funds have recently modified their holdings of the company. Brown Advisory Inc. raised its holdings in Raytheon Technologies by 7.1% in the 4th quarter. Brown Advisory Inc. now owns 317,064 shares of the company’s stock valued at $27,286,000 after acquiring an additional 21,024 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management raised its holdings in Raytheon Technologies by 32.2% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 4,241 shares of the company’s stock valued at $365,000 after acquiring an additional 1,034 shares during the period. Cedar Brook Financial Partners LLC grew its position in shares of Raytheon Technologies by 16.1% during the 4th quarter. Cedar Brook Financial Partners LLC now owns 3,683 shares of the company’s stock worth $317,000 after purchasing an additional 512 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Raytheon Technologies by 8.8% during the 4th quarter. Bessemer Group Inc. now owns 35,777 shares of the company’s stock worth $3,079,000 after purchasing an additional 2,886 shares in the last quarter. Finally, Amplius Wealth Advisors LLC acquired a new position in shares of Raytheon Technologies during the 4th quarter worth approximately $340,000. 79.56% of the stock is owned by institutional investors.
About Raytheon Technologies
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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