Raytheon Technologies (NYSE:RTX – Get Rating) had its price target cut by equities research analysts at Wells Fargo & Company from $106.00 to $98.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a “maintains” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 6.07% from the company’s current price.
A number of other brokerages also recently commented on RTX. Cowen lifted their price objective on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. StockNews.com raised Raytheon Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. Cowen lifted their price objective on Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Royal Bank of Canada lowered their price objective on Raytheon Technologies from $125.00 to $115.00 and set a “maintains” rating for the company in a research report on Wednesday. Finally, Argus lifted their price objective on Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Raytheon Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $113.30.
Raytheon Technologies Stock Performance
NYSE RTX opened at $92.39 on Wednesday. Raytheon Technologies has a fifty-two week low of $79.00 and a fifty-two week high of $106.02. The stock 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. The business has a fifty day moving average of $93.74 and a 200-day moving average of $95.40. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.42.
Institutional Investors Weigh In On Raytheon Technologies
A number of institutional investors have recently added to or reduced their stakes in the company. Garrett Investment Advisors LLC boosted its position in shares of 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 buying an additional 290 shares during the period. Addison Capital Co boosted its position in shares of 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 buying an additional 1,467 shares during the period. Smithbridge Asset Management Inc. DE boosted its position in shares of 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 buying an additional 1,790 shares during the period. Pinnacle Associates Ltd. lifted its stake in shares of Raytheon Technologies by 1.5% in the first quarter. Pinnacle Associates Ltd. now owns 242,107 shares of the company’s stock worth $23,986,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of 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 acquiring an additional 4,172 shares in the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.
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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