Morgan Stanley analyst Kristine Liwag maintained a Buy rating on Raytheon Technologies (RTX) today and set a price target of $97.00. The company’s shares closed last Wednesday at $82.50, close to its 52-week high of $83.69.
According to TipRanks.com, Liwag has 0 stars on 0-5 stars ranking scale with an average return of -5.7% and a 53.8% success rate. Liwag covers the Technology sector, focusing on stocks such as L3Harris Technologies, Spirit AeroSystems, and General Dynamics.
Currently, the analyst consensus on Raytheon Technologies is a Strong Buy with an average price target of $91.00, implying an 11.7% upside from current levels. In a report issued on April 14, Credit Suisse also maintained a Buy rating on the stock with a $90.00 price target.
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Based on Raytheon Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $16.42 billion and net profit of $135 million. In comparison, last year the company earned revenue of $11.69 billion and had a net profit of $1.14 billion.
Based on the recent corporate insider activity of 24 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.
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Based in Massachusetts, Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. The company operates through four business segments, including Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense. The company was formed in April 2020, through the combination of Raytheon company and the United Technologies Corporation aerospace businesses.
