Raytheon Technologies Corporation (NYSE:RTX) shares traded -0.20% lower at $95.57 on Wall Street last session.
In accordance with the data, 23 analysts cover Raytheon Technologies Corporation (NYSE:RTX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $120.00 and a low of $98.00, we find $110.00. Given the previous closing price of $95.76, this indicates a potential upside of 14.87 percent. RTX stock price is now -1.05% away from the 50-day moving average and -1.16% away from the 200-day moving average. The market capitalization of the company currently stands at $141.09B.
It has been rated a hold by 7 analysts and a buy by 12. Brokers who have rated the stock have averaged $109.94 as their price target over the next twelve months.
With the price target reduced from $115 to $110, Jefferies Downgraded its rating from Buy to Hold for Raytheon Technologies Corporation (NYSE: RTX).
In other news, Johnson Amy L, Corporate VP and Controller sold 3,622 shares of the company’s stock on Feb 28. The stock was sold for $356,952 at an average price of $98.55. Upon completion of the transaction, the Corporate VP and Controller now directly owns 4,061 shares in the company, valued at $0.39 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 02, Chairman and CEO HAYES GREGORY sold 4,260 shares of the business’s stock. A total of $422,405 was realized by selling the stock at an average price of $99.16. This leaves the insider owning 453,685 shares of the company worth $43.36 million. Insiders disposed of 156,051 shares of company stock worth roughly $14.91 million over the past 1 year. A total of 0.09% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RTX stock. A new stake in Raytheon Technologies Corporation shares was purchased by SANDERS CAPITAL, LLC during the first quarter worth $751,371,000. WOODLINE PARTNERS LP invested $93,224,000 in shares of RTX during the first quarter. In the first quarter, CERITY PARTNERS LLC acquired a new stake in Raytheon Technologies Corporation valued at approximately $50,699,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in RTX for approximately $23,233,000. CARTENNA CAPITAL, LP purchased a new stake in RTX valued at around $21,503,000 in the second quarter.
Raytheon Technologies Corporation (NYSE: RTX) opened at $95.84 on Wednesday. During the past 12 months, Raytheon Technologies Corporation has had a low of $80.27 and a high of $104.91. As of last week, the company has a debt-to-equity ratio of 0.47, a current ratio of 1.10, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $169.86B, which is based on a 25.53 price-to-earnings ratio, a 2.36 price-to-earnings-growth ratio, and a beta of 1.05. The fifty day moving average price for RTX is $96.56 and a two-hundred day moving average price translates $96.75 for the stock.
The latest earnings results from Raytheon Technologies Corporation (NYSE: RTX) was released for Mar, 2023. According to the Aerospace & Defense Company, earnings per share came in at $1.22, beating analysts’ expectations of $1.13 by 0.09. This compares to -$0.02 EPS in the same period last year. The net profit margin was 8.10% and return on equity was 7.70% for RTX. The company reported revenue of $17.21 billion for the quarter, compared to $15.72 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.53 percent. For the current quarter, analysts expect RTX to generate $17.68B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/07/2023. Investors who held shares on 08/18/2023 were paid a $0.59 dividend. On an annualized basis, this represents a $2.36 dividend and a 2.47% percent yield. There was an ex-dividend date of 08/17/2023 for this dividend. In terms of dividend payout ratio, RTX is presently at 58.40%.
Raytheon Technologies Corporation(RTX) 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, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations. This segment also designs, produces, and supports cabin interior, oxygen systems, food and beverage preparation, storage and galley systems, and lavatory and wastewater management systems; airborne intelligence, surveillance and reconnaissance systems, test and training range systems, crew escape systems, and simulation and training solutions; information management services; and aftermarket services that include spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, and asset management services. The Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation customers; and produces, sells, and services military and commercial auxiliary power units. The Raytheon Intelligence & Space segment develops and provides integrated space, communication, and sensor systems, and cyber and software solutions to intelligence, defense, federal, and commercial customers. The Raytheon Missiles & Defense segment provides end-to-end solutions for U.S. and foreign government customers designed to detect, track, and engage threats. The company was incorporated in 1934 and is headquartered in Arlington, Virginia.
