New Buy Rating for Raytheon Technologies (RTX), the Technology Giant


Credit Suisse analyst Robert Spingarn maintained a Buy rating on Raytheon Technologies (RTX) today and set a price target of $81.00. The company’s shares closed last Tuesday at $59.69, close to its 52-week low of $48.05.

According to TipRanks.com, Spingarn is a 5-star analyst with an average return of 9.6% and a 61.9% success rate. Spingarn covers the Technology sector, focusing on stocks such as L3Harris Technologies, Huntington Ingalls, and General Dynamics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Raytheon Technologies with a $74.75 average price target, representing a 29.1% upside. In a report issued on May 10, Jefferies also maintained a Buy rating on the stock with a $80.00 price target.

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Based on Raytheon Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $18.21 billion and GAAP net loss of $83 million. In comparison, last year the company earned revenue of $18.37 billion and had a net profit of $1.35 billion.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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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