Raytheon Technologies (RTX) Received its Third Buy in a Row

After Barclays and J.P. Morgan gave Raytheon Technologies (NYSE: RTX) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Cai Rumohr maintained a Buy rating on Raytheon Technologies today and set a price target of $65.00. The company’s shares closed last Wednesday at $62.62, close to its 52-week low of $48.05.

According to TipRanks.com, Rumohr is a 5-star analyst with an average return of 6.7% and a 59.9% success rate. Rumohr covers the Consumer Goods sector, focusing on stocks such as Spirit AeroSystems, General Dynamics, and Triumph Group.

Currently, the analyst consensus on Raytheon Technologies is a Moderate Buy with an average price target of $94.12, representing a 61.3% upside. In a report issued on March 25, Barclays also maintained a Buy rating on the stock with a $71.96 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 $19.55 billion and net profit of $1.14 billion. In comparison, last year the company earned revenue of $18.04 billion and had a net profit of $686 million.

Based on the recent corporate insider activity of 76 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.

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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.