Raytheon Technologies Co. (NYSE:RTX) Expected to Announce Quarterly Sales of $16.46 Billion

Equities analysts predict that Raytheon Technologies Co. (NYSE:RTX – Get Rating) will announce sales of $16.46 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Raytheon Technologies’ earnings, with estimates ranging from $16.33 billion to $16.65 billion. Raytheon Technologies posted sales of $15.88 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Raytheon Technologies will report full-year sales of $68.09 billion for the current financial year, with estimates ranging from $67.75 billion to $68.32 billion. For the next financial year, analysts expect that the business will report sales of $74.31 billion, with estimates ranging from $73.71 billion to $74.88 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Raytheon Technologies.

Raytheon Technologies (NYSE:RTX – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $15.72 billion during the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS.

RTX has been the subject of several recent analyst reports. Robert W. Baird increased their price target on Raytheon Technologies from $100.00 to $106.00 in a research note on Wednesday, January 26th. StockNews.com cut Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays increased their price target on Raytheon Technologies from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Thursday, March 10th. Wells Fargo & Company decreased their target price on Raytheon Technologies from $97.00 to $96.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 26th. Finally, Morgan Stanley raised their target price on Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $110.08.

Shares of RTX opened at $91.00 on Thursday. Raytheon Technologies has a 12 month low of $79.00 and a 12 month high of $106.02. The company has a market cap of $135.34 billion, a P/E ratio of 32.62, a PEG ratio of 1.90 and a beta of 1.19. The stock has a fifty day moving average price of $99.08 and a 200 day moving average price of $92.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 0.88.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Friday, May 20th will be paid a $0.55 dividend. This is an increase from Raytheon Technologies’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, May 19th. Raytheon Technologies’s dividend payout ratio is currently 73.12%.

In other Raytheon Technologies news, insider Wesley D. Kremer sold 15,083 shares of the company’s stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $93.92, for a total value of $1,416,595.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tracy A. Atkinson sold 5,340 shares of the company’s stock in a transaction dated Friday, February 18th. The stock was 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 three months, insiders sold 34,749 shares of company stock valued at $3,344,416. Company insiders own 0.11% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Shore Point Advisors LLC acquired a new position in shares of Raytheon Technologies during the 4th quarter valued at about $25,000. Stuart Chaussee & Associates Inc. increased its holdings in shares of Raytheon Technologies by 135.5% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Nauset Wealth Management. LLC acquired a new position in shares of Raytheon Technologies during the 1st quarter valued at about $30,000. Fortis Advisors LLC acquired a new position in shares of Raytheon Technologies during the 3rd quarter valued at about $32,000. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of Raytheon Technologies during the 4th quarter valued at about $37,000. 79.56% of the stock is currently owned by 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.

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