Raytheon Technologies (NYSE:RTX) Price Target Raised to $107.00 at Wells Fargo & Company

Raytheon Technologies (NYSE:RTX – Get Rating) had its price objective upped by research analysts at Wells Fargo & Company from $96.00 to $107.00 in a research note issued on Wednesday, The Fly reports. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.57% from the stock’s previous close.

Several other research firms have also weighed in on RTX. Morgan Stanley reduced their price objective on shares of Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, January 19th. Wolfe Research initiated coverage on shares of Raytheon Technologies in a report on Monday, October 10th. They set a “peer perform” rating on the stock. StockNews.com upgraded shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Robert W. Baird dropped their target price on shares of Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, Citigroup initiated coverage on shares of Raytheon Technologies in a report on Thursday, December 8th. They set a “neutral” rating and a $104.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Raytheon Technologies has a consensus rating of “Moderate Buy” and an average price target of $109.93.

Raytheon Technologies Stock Up 3.3 %

Shares of NYSE RTX opened at $99.47 on Wednesday. The firm has a market capitalization of $146.23 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 1.98 and a beta of 1.03. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. Raytheon Technologies has a 1 year low of $80.27 and a 1 year high of $108.84. The firm’s 50-day moving average is $98.58 and its 200-day moving average is $93.04.

Raytheon Technologies (NYSE:RTX – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.03. Raytheon Technologies had a net margin of 6.76% and a return on equity of 9.36%. The business had revenue of $18.09 billion for the quarter, compared to analyst estimates of $18.16 billion. During the same quarter last year, the firm earned $1.08 EPS. Raytheon Technologies’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Raytheon Technologies will post 4.76 EPS for the current year.

Raytheon Technologies announced that its board has initiated a share buyback plan on Monday, December 12th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 1,206 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $92.01, for a total transaction of $110,964.06. Following the transaction, the executive vice president now directly owns 10,596 shares in the company, valued at $974,937.96. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Dantaya M. Williams sold 1,206 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $92.01, for a total transaction of $110,964.06. Following the transaction, the executive vice president now directly owns 10,596 shares in the company, valued at $974,937.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 3,343 shares of the business’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $95.53, for a total transaction of $319,356.79. Following the transaction, the insider now owns 24,176 shares in the company, valued at $2,309,533.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,506 shares of company stock worth $1,012,702. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Raytheon Technologies

A number of institutional investors have recently added to or reduced their stakes in RTX. Sanders Morris Harris LLC boosted its position in Raytheon Technologies by 1.0% during the fourth quarter. Sanders Morris Harris LLC now owns 9,720 shares of the company’s stock worth $981,000 after purchasing an additional 100 shares during the period. Leisure Capital Management boosted its position in Raytheon Technologies by 2.9% during the third quarter. Leisure Capital Management now owns 3,757 shares of the company’s stock worth $308,000 after purchasing an additional 105 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its position in Raytheon Technologies by 6.6% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 1,723 shares of the company’s stock worth $141,000 after purchasing an additional 107 shares during the period. KRS Capital Management LLC boosted its position in Raytheon Technologies by 3.0% during the fourth quarter. KRS Capital Management LLC now owns 3,701 shares of the company’s stock worth $374,000 after purchasing an additional 107 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Raytheon Technologies by 1.6% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,821 shares of the company’s stock worth $688,000 after purchasing an additional 109 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.