Raytheon Technologies (NYSE:RTX) Research Coverage Started at Citigroup – MarketBeat
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Citigroup initiated coverage on shares of Raytheon Technologies (NYSE:RTX – Get Rating) in a report released on Thursday, The Fly reports. The firm set a “neutral” rating on the stock.
Other research analysts have also recently issued research reports about the company. Morgan Stanley reduced their target price on Raytheon Technologies from $124.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Wells Fargo & Company reduced their price objective on Raytheon Technologies from $98.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 26th. Wolfe Research assumed coverage on Raytheon Technologies in a research note on Monday, October 10th. They set a “peer perform” rating on the stock. Credit Suisse Group reduced their price objective on Raytheon Technologies from $85.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 26th. Finally, Robert W. Baird cut their target price on Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Raytheon Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $108.73.
Raytheon Technologies Trading Up 0.3 %
NYSE:RTX opened at $99.04 on Thursday. The company has a market cap of $145.59 billion, a P/E ratio of 33.01, a P/E/G ratio of 2.19 and a beta of 1.07. The stock’s fifty day moving average price is $91.68 and its two-hundred day moving average price is $91.87. Raytheon Technologies has a 1 year low of $79.69 and a 1 year high of $106.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 0.82.
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its earnings results on Tuesday, October 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.10. Raytheon Technologies had a return on equity of 9.36% and a net margin of 6.76%. The firm had revenue of $16.95 billion for the quarter, compared to the consensus estimate of $17.25 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts expect that Raytheon Technologies will post 4.76 EPS for the current year.
Insider Activity
In related news, CEO Gregory Hayes sold 4,260 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $99.16, for a total transaction of $422,421.60. Following the sale, the chief executive officer now owns 453,685 shares of the company’s stock, valued at $44,987,404.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Raytheon Technologies news, CEO Gregory Hayes sold 4,260 shares of Raytheon Technologies stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $99.16, for a total transaction of $422,421.60. Following the completion of the transaction, the chief executive officer now directly owns 453,685 shares of the company’s stock, valued at $44,987,404.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shane G. Eddy sold 3,343 shares of the stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $95.53, for a total transaction of $319,356.79. Following the completion of the sale, the insider now directly owns 24,176 shares in the company, valued at approximately $2,309,533.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,506 shares of company stock worth $1,012,702. 0.11% of the stock is currently owned by insiders.
Institutional Trading of Raytheon Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FSC Wealth Advisors LLC purchased a new stake in Raytheon Technologies in the 3rd quarter worth about $25,000. McClarren Financial Advisors Inc. purchased a new stake in Raytheon Technologies in the 3rd quarter worth about $25,000. SJS Investment Consulting Inc. bought a new position in Raytheon Technologies in the 3rd quarter worth about $26,000. Private Ocean LLC grew its stake in Raytheon Technologies by 65.3% in the 3rd quarter. Private Ocean LLC now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Finally, Coston McIsaac & Partners bought a new position in Raytheon Technologies in the 2nd quarter worth about $31,000. 79.89% of the stock is owned by hedge funds and other 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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