Vertical Research Trims Raytheon Technologies (NYSE:RTX) Target Price to $120.00

Raytheon Technologies (NYSE:RTXGet 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 (NYSE:RTXGet Rating) last announced its earnings results on Tuesday, July 26th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $16.31 billion during the quarter, compared to analyst estimates of $16.61 billion. Raytheon Technologies had a net margin of 6.47% and a return on equity of 9.24%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. Research analysts predict that Raytheon Technologies will post 4.76 earnings per share for the current fiscal year.

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

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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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