Raytheon Technologies (NYSE:RTX) Updates FY22 Earnings Guidance

Raytheon Technologies (NYSE:RTXGet Rating) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.60-4.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.80. The company issued revenue guidance of $67.75-68.75, compared to the consensus revenue estimate of $69.03 billion.Raytheon Technologies also updated its FY 2022 guidance to $4.600-$4.800 EPS.

Shares of NYSE RTX opened at $99.61 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $148.45 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 2.08 and a beta of 1.24. The stock’s fifty day simple moving average is $99.39 and its 200 day simple moving average is $92.29. Raytheon Technologies has a 52-week low of $79.00 and a 52-week high of $106.02.

Raytheon Technologies (NYSE:RTXGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. Raytheon Technologies had a return on equity of 8.78% and a net margin of 6.00%. The firm had revenue of $15.72 billion during the quarter, compared to analysts’ expectations of $15.83 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts anticipate that Raytheon Technologies will post 4.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Friday, May 20th will be paid a $0.55 dividend. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 2.21%. Raytheon Technologies’s dividend payout ratio is currently 79.38%.

Several analysts have commented on the stock. Morgan Stanley upped their target price on shares of Raytheon Technologies from $118.00 to $124.00 and gave the company an overweight rating in a research report on Wednesday, March 2nd. Wells Fargo & Company dropped their price target on 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. Wolfe Research lifted their target price on Raytheon Technologies from $110.00 to $111.00 and gave the company an outperform rating in a research report on Wednesday, February 16th. StockNews.com initiated coverage on Raytheon Technologies in a report on Thursday, March 31st. They set a buy rating for the company. Finally, Robert W. Baird boosted their price objective on Raytheon Technologies from $100.00 to $106.00 in a report on Wednesday, January 26th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $105.36.

In related news, Director Tracy A. Atkinson sold 5,340 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $93.63, for a total value of $499,984.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wesley D. Kremer sold 15,083 shares of the stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $93.92, for a total value of $1,416,595.36. The disclosure for this sale can be found here. Insiders have sold 34,749 shares of company stock valued at $3,344,416 in the last quarter. 0.11% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Carroll Investors Inc acquired a new position in shares of Raytheon Technologies in the 4th quarter valued at about $43,000. Zacks Investment Management purchased a new stake in shares of Raytheon Technologies during the 4th quarter valued at about $231,000. Zullo Investment Group Inc. purchased a new stake in shares of Raytheon Technologies during the 4th quarter valued at about $287,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Raytheon Technologies during the 4th quarter valued at about $421,000. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Raytheon Technologies by 25.9% during the 4th quarter. Flagship Harbor Advisors LLC now owns 19,692 shares of the company’s stock valued at $1,695,000 after buying an additional 4,051 shares during the period. 78.57% of the stock is currently owned by hedge funds and other institutional investors.

About Raytheon Technologies (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.

See Also

Earnings History and Estimates for Raytheon Technologies (NYSE:RTX)

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