Cowen & Co. Releases a Buy Rating on Raytheon Technologies (RTX)


Cowen & Co. analyst Cai Rumohr assigned a Buy rating to Raytheon Technologies (RTX) on October 27 and set a price target of $70.00. The company’s shares closed last Thursday at $73.29.

According to TipRanks.com, Rumohr is a 4-star analyst with an average return of 6.9% and a 60.8% success rate. Rumohr covers the Technology sector, focusing on stocks such as Science Applications, Spirit AeroSystems, and Caci International.

Raytheon Technologies has an analyst consensus of Strong Buy, with a price target consensus of $77.38, which is a 7.3% upside from current levels. In a report issued on October 12, Credit Suisse also maintained a Buy rating on the stock with a $75.00 price target.

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Raytheon Technologies’ market cap is currently $112.1B and has a P/E ratio of -61.40. The company has a Price to Book ratio of -4.05.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RTX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

United Technologies Corp. engages in the provision of products and services to the building systems and aerospace industries worldwide. It operates through the following business segments: Otis; Carrier; Pratt and Whitney; and Collins Aerospace Systems. The Otis segment designs, manufactures, sells, and installs elevators, escalators, moving walkways, and service. The Carrier segment provides heating, ventilating, air conditioning, and refrigeration solutions. The Pratt and Whitney segment includes aircraft engines for the commercial, military, business jet, and general aviation markets. The Collins Aerospace Systems segment offers technologically advanced aerospace products and aftermarket service solutions for aircraft manufacturers, airlines, regional, business and general aviation markets, military, space and undersea operations. The company was founded in 1934 and is headquartered in Farmington, CT.

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