Raytheon Technologies (NYSE:RTX – Get Rating) is set to announce its earnings results before the market opens on Tuesday, April 26th. Analysts expect the company to announce earnings of $1.03 per share for the quarter. Raytheon Technologies has set its FY22 guidance at $4.60-4.80 EPS.Parties interested in registering for the company’s conference call can do so using this link.
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings results on Tuesday, January 25th. The company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.07. Raytheon Technologies had a net margin of 6.00% and a return on equity of 8.78%. The firm had revenue of $17.04 billion for the quarter, compared to analysts’ expectations of $17.28 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts expect Raytheon Technologies to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Shares of Raytheon Technologies stock opened at $104.30 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 0.93. Raytheon Technologies has a 1 year low of $76.07 and a 1 year high of $105.46. The firm’s 50-day moving average is $98.64 and its two-hundred day moving average is $91.83. The stock has a market cap of $155.43 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.14 and a beta of 1.24.
In other news, Director Tracy A. Atkinson sold 5,340 shares of the stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $93.63, for a total value of $499,984.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wesley D. Kremer sold 15,083 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $93.92, for a total transaction of $1,416,595.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,749 shares of company stock valued at $3,344,416. Insiders own 0.11% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its stake in Raytheon Technologies by 4.6% during the second quarter. Morgan Stanley now owns 23,861,231 shares of the company’s stock worth $2,035,603,000 after buying an additional 1,050,028 shares in the last quarter. Heritage Wealth Advisors lifted its holdings in shares of Raytheon Technologies by 8.9% during the fourth quarter. Heritage Wealth Advisors now owns 243,582 shares of the company’s stock valued at $20,963,000 after acquiring an additional 19,878 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Raytheon Technologies by 14.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 99,104 shares of the company’s stock valued at $8,529,000 after acquiring an additional 12,474 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Raytheon Technologies by 72.8% in the fourth quarter. NewEdge Advisors LLC now owns 86,806 shares of the company’s stock valued at $7,470,000 after buying an additional 36,581 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Raytheon Technologies by 12.6% in the fourth quarter. Kingsview Wealth Management LLC now owns 24,657 shares of the company’s stock valued at $2,122,000 after buying an additional 2,750 shares during the last quarter. Institutional investors own 78.57% of the company’s stock.
Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Thursday, March 10th. Wolfe Research raised their price objective on shares of Raytheon Technologies from $110.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 16th. Royal Bank of Canada started coverage on shares of Raytheon Technologies in a research note on Friday, April 8th. They set an “outperform” rating and a $125.00 price objective on the stock. Wells Fargo & Company dropped their price target on shares of Raytheon Technologies from $97.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 26th. Finally, Morgan Stanley lifted their price target on shares of Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Raytheon Technologies has an average rating of “Buy” and an average price target of $105.36.
Raytheon Technologies Company Profile (Get Rating)
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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