RTX Stock – $15.78 Billion in Sales Expected for Raytheon Technologies Co. (NYSE:RTX) This Quarter
Equities research analysts expect that Raytheon Technologies Co. (NYSE:RTX) will announce $15.78 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Raytheon Technologies’ earnings, with estimates ranging from $15.66 billion to $15.90 billion. Raytheon Technologies posted sales of $14.06 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 12.2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 27th.
According to Zacks, analysts expect that Raytheon Technologies will report full-year sales of $65.23 billion for the current financial year, with estimates ranging from $65.08 billion to $65.40 billion. For the next fiscal year, analysts expect that the business will report sales of $71.12 billion, with estimates ranging from $69.10 billion to $71.81 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Raytheon Technologies.
Raytheon Technologies (NYSE:RTX) last posted its earnings results on Monday, April 26th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The business had revenue of $15.25 billion during the quarter, compared to the consensus estimate of $15.27 billion. Raytheon Technologies had a positive return on equity of 5.54% and a negative net margin of 4.44%. The business’s quarterly revenue was up 34.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 EPS.
Several analysts recently commented on RTX shares. Morgan Stanley upped their price target on shares of Raytheon Technologies from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. Jefferies Financial Group raised their price target on Raytheon Technologies from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research initiated coverage on Raytheon Technologies in a research note on Friday, April 9th. They set an “outperform” rating and a $97.00 price objective for the company. Credit Suisse Group boosted their target price on Raytheon Technologies from $94.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, May 19th. Finally, Susquehanna increased their price target on Raytheon Technologies from $91.00 to $97.00 and gave the stock a “positive” rating in a report on Wednesday, April 28th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.33.
RTX stock opened at $89.02 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.17 and a quick ratio of 0.91. The firm has a market capitalization of $134.87 billion, a P/E ratio of -49.73, a P/E/G ratio of 1.65 and a beta of 1.46. The company has a 50 day moving average price of $82.52. Raytheon Technologies has a twelve month low of $51.92 and a twelve month high of $89.93.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Friday, May 21st will be given a $0.51 dividend. The ex-dividend date is Thursday, May 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from Raytheon Technologies’s previous quarterly dividend of $0.48. Raytheon Technologies’s dividend payout ratio (DPR) is currently 74.73%.
In other news, EVP Michael R. Dumais sold 4,552 shares of the company’s stock in a transaction on Monday, May 24th. The stock was sold at an average price of $86.27, for a total value of $392,701.04. Following the sale, the executive vice president now directly owns 74,374 shares in the company, valued at $6,416,244.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frank R. Jimenez sold 19,713 shares of the stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $82.47, for a total value of $1,625,731.11. Following the sale, the executive vice president now directly owns 62,221 shares in the company, valued at approximately $5,131,365.87. The disclosure for this sale can be found here. Insiders sold a total of 25,665 shares of company stock worth $2,138,790 over the last quarter. Insiders own 0.11% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Conning Inc. raised its holdings in Raytheon Technologies by 3,042.0% in the 1st quarter. Conning Inc. now owns 661,302 shares of the company’s stock valued at $51,099,000 after acquiring an additional 640,255 shares during the last quarter. Doyle Wealth Management increased its stake in Raytheon Technologies by 4.2% in the first quarter. Doyle Wealth Management now owns 114,302 shares of the company’s stock valued at $8,832,000 after purchasing an additional 4,611 shares during the last quarter. Allied Investment Advisors LLC lifted its position in Raytheon Technologies by 7.2% during the first quarter. Allied Investment Advisors LLC now owns 73,216 shares of the company’s stock worth $5,657,000 after buying an additional 4,947 shares during the period. Gratus Capital LLC boosted its stake in Raytheon Technologies by 9.1% in the 1st quarter. Gratus Capital LLC now owns 143,620 shares of the company’s stock worth $11,097,000 after buying an additional 11,974 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in Raytheon Technologies by 13.7% in the 1st quarter. Private Advisor Group LLC now owns 174,559 shares of the company’s stock valued at $13,488,000 after buying an additional 20,988 shares during the period. 78.40% of the stock is currently owned by institutional investors.
Raytheon Technologies Company Profile
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.
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