Raytheon Technologies (NYSE:RTX) Cut to “Hold” at StockNews.com

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

Several other research firms also recently commented on RTX. Cowen lifted their price objective on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Cowen lifted their price objective on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Argus lifted their price objective on shares of Raytheon Technologies from $100.00 to $112.00 in a research note on Wednesday, April 27th. Wells Fargo & Company lowered their price objective on shares of Raytheon Technologies from $106.00 to $98.00 and set a “maintains” rating for the company in a research note on Wednesday. Finally, Vertical Research lowered their price objective on shares of Raytheon Technologies to $120.00 and set an “outperform” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.30.

Raytheon Technologies Price Performance

Shares of RTX opened at $92.39 on Wednesday. The company has a market cap of $137.40 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. Raytheon Technologies has a twelve month low of $79.00 and a twelve month high of $106.02. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $93.74 and a two-hundred day moving average 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, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $16.31 billion during the quarter, compared to the consensus estimate of $16.61 billion. Raytheon Technologies had a net margin of 6.47% and a return on equity of 9.24%. Raytheon Technologies’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. As a group, analysts predict that Raytheon Technologies will post 4.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Norges Bank purchased a new position in Raytheon Technologies in the fourth quarter valued at $1,277,246,000. Capital Research Global Investors increased its holdings in Raytheon Technologies by 13.8% in 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 buying an additional 8,237,529 shares in the last quarter. Capital International Investors increased its holdings in Raytheon Technologies by 12.1% in the first quarter. Capital International Investors now owns 41,171,497 shares of the company’s stock valued at $4,079,206,000 after buying an additional 4,436,749 shares in the last quarter. Capital World Investors increased its holdings in Raytheon Technologies by 32.8% in the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after buying an additional 2,256,475 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake 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 worth $11,957,745,000 after purchasing an additional 2,236,112 shares in the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.

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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