Morgan Stanley Raises Raytheon Technologies (NYSE:RTX) Price Target to $97.00

Raytheon Technologies (NYSE:RTX) had its price target upped by equities researchers at Morgan Stanley from $89.00 to $97.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 15.28% from the stock’s previous close.

A number of other research firms have also recently commented on RTX. Susquehanna Bancshares boosted their price objective on Raytheon Technologies from $91.00 to $97.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. Langenberg & Company raised Raytheon Technologies from a “hold” rating to a “buy” rating in a research note on Monday. Susquehanna lifted their price target on Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a research note on Wednesday, April 28th. Zacks Investment Research lowered Raytheon Technologies from a “buy” rating to a “hold” rating and set a $88.00 price target on the stock. in a research note on Friday. Finally, Wolfe Research assumed coverage on Raytheon Technologies in a research note on Thursday, April 15th. They issued an “outperform” rating and a $97.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Raytheon Technologies currently has an average rating of “Buy” and an average price target of $85.44.

Shares of RTX stock opened at $84.14 on Tuesday. Raytheon Technologies has a 1-year low of $51.13 and a 1-year high of $84.44. The stock’s 50-day moving average is $78.75 and its 200 day moving average is $71.64. The company has a market cap of $127.48 billion, a P/E ratio of -72.53, a PEG ratio of 1.67 and a beta of 1.39. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.22 and a quick ratio of 0.95.

Raytheon Technologies (NYSE:RTX) last issued its quarterly earnings data on Monday, April 26th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $15.25 billion for the quarter, compared to the consensus estimate of $15.27 billion. Raytheon Technologies had a positive return on equity of 8.35% and a negative net margin of 3.77%. The firm’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. On average, analysts anticipate that Raytheon Technologies will post 3.01 EPS for the current year.

In related news, EVP Frank R. Jimenez sold 19,713 shares of the business’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $82.47, for a total value of $1,625,731.11. Following the sale, the executive vice president now owns 62,221 shares in the company, valued at approximately $5,131,365.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC boosted its position in shares of Raytheon Technologies by 88.1% in the 1st quarter. Evolution Wealth Advisors LLC now owns 348 shares of the company’s stock valued at $27,000 after purchasing an additional 163 shares during the period. IronBridge Private Wealth LLC purchased a new position in shares of Raytheon Technologies during the 4th quarter worth approximately $29,000. Annapolis Financial Services LLC purchased a new position in Raytheon Technologies in the 4th quarter valued at approximately $30,000. Paradigm Strategies in Wealth Management LLC purchased a new position in Raytheon Technologies in the 1st quarter valued at approximately $30,000. Finally, JJJ Advisors Inc. grew its holdings in Raytheon Technologies by 52.5% during the 4th quarter. JJJ Advisors Inc. now owns 453 shares of the company’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. 75.09% of the stock is owned by institutional investors and hedge funds.

Raytheon Technologies Company Profile

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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