Q4 2022 Earnings Estimate for Raytheon Technologies Co. Issued By Jefferies Financial Group (NYSE:RTX)

Raytheon Technologies Co. (NYSE:RTX – Get Rating) – Equities research analysts at Jefferies Financial Group decreased their Q4 2022 earnings per share (EPS) estimates for Raytheon Technologies in a research report issued to clients and investors on Sunday, May 1st. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the company will earn $1.20 per share for the quarter, down from their prior forecast of $1.30.

Raytheon Technologies (NYSE:RTX – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.14. The business had revenue of $15.72 billion during the quarter, compared to analysts’ expectations of $15.83 billion. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS.

RTX has been the topic of several other reports. Robert W. Baird boosted their price target on Raytheon Technologies from $100.00 to $106.00 in a research report on Wednesday, January 26th. Barclays increased their price target on Raytheon Technologies from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, March 10th. Cowen upped their price objective on shares of Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. Cowen boosted their target price on shares of Raytheon Technologies from $115.00 to $120.00 in a research report on Wednesday, April 27th. Finally, Royal Bank of Canada began coverage on Raytheon Technologies in a research report on Friday, April 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $109.93.

Raytheon Technologies stock opened at $95.40 on Wednesday. The company has a market capitalization of $141.88 billion, a P/E ratio of 34.19, a P/E/G ratio of 1.89 and a beta of 1.18. Raytheon Technologies has a 1-year low of $79.00 and a 1-year high of $106.02. The firm’s fifty day simple moving average is $99.77 and its 200-day simple moving average is $92.56. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42.

Several large investors have recently modified their holdings of the company. Successful Portfolios LLC boosted its position in Raytheon Technologies by 1.9% in the first quarter. Successful Portfolios LLC now owns 5,075 shares of the company’s stock valued at $503,000 after buying an additional 97 shares in the last quarter. Prosperity Consulting Group LLC boosted its holdings in shares of Raytheon Technologies by 0.9% during the 1st quarter. Prosperity Consulting Group LLC now owns 11,290 shares of the company’s stock valued at $1,118,000 after acquiring an additional 103 shares in the last quarter. Naples Global Advisors LLC grew its position in Raytheon Technologies by 0.3% during the 1st quarter. Naples Global Advisors LLC now owns 36,950 shares of the company’s stock worth $3,661,000 after acquiring an additional 111 shares during the last quarter. Blue Chip Partners Inc. increased its holdings in Raytheon Technologies by 0.4% in the 4th quarter. Blue Chip Partners Inc. now owns 25,783 shares of the company’s stock worth $2,219,000 after purchasing an additional 112 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Raytheon Technologies by 0.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 15,731 shares of the company’s stock valued at $1,354,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.

In related news, insider Wesley D. Kremer sold 15,083 shares of the stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $93.92, for a total value of $1,416,595.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tracy A. Atkinson sold 5,340 shares of Raytheon Technologies 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,749 shares of company stock worth $3,344,416. 0.11% of the stock is currently owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Friday, May 20th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, May 19th. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.51. Raytheon Technologies’s dividend payout ratio (DPR) is presently 73.12%.

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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