Raytheon Technologies (NYSE:RTX – Get Rating) will post its quarterly earnings results before the market opens on Tuesday, April 25th. Analysts expect Raytheon Technologies to post earnings of $1.11 per share for the quarter. Raytheon Technologies has set its FY 2023 guidance at $4.90-$5.05 EPS and its FY23 guidance at $4.90-5.05 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.
Raytheon Technologies (NYSE:RTX – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.03. Raytheon Technologies had a return on equity of 9.73% and a net margin of 7.75%. The business had revenue of $18.09 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter in the previous year, the business posted $1.08 EPS. Raytheon Technologies’s revenue for the quarter was up 6.2% 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.
Raytheon Technologies Trading Down 0.6 %
Shares of Raytheon Technologies stock opened at $102.25 on Friday. Raytheon Technologies has a 12-month low of $80.27 and a 12-month high of $108.84. The stock has a market cap of $149.61 billion, a P/E ratio of 29.21, a P/E/G ratio of 2.46 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $99.23 and its 200-day moving average is $97.05.
Raytheon Technologies Announces Dividend
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group cut Raytheon Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $115.00 to $105.00 in a research note on Friday, January 13th. Citigroup boosted their target price on Raytheon Technologies from $104.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Wolfe Research raised Raytheon Technologies from a “peer perform” rating to an “outperform” rating and set a $117.00 target price on the stock in a report on Wednesday, April 12th. StockNews.com assumed coverage on Raytheon Technologies in a report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Morgan Stanley decreased their target price on Raytheon Technologies from $119.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, January 19th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $111.50.
Insider Transactions at Raytheon Technologies
In other news, VP Amy L. Johnson sold 3,622 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $98.55, for a total transaction of $356,948.10. Following the sale, the vice president now directly owns 4,061 shares of the company’s stock, valued at approximately $400,211.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.
Institutional Trading of Raytheon Technologies
Several institutional investors and hedge funds have recently modified their holdings of the business. Ironwood Wealth Management LLC. lifted its position in shares of Raytheon Technologies by 1.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after buying an additional 128 shares during the last quarter. Laidlaw Wealth Management LLC raised its position in Raytheon Technologies by 1.8% in the fourth quarter. Laidlaw Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $972,000 after purchasing an additional 167 shares during the last quarter. Lavaca Capital LLC raised its position in Raytheon Technologies by 2.8% in the fourth quarter. Lavaca Capital LLC now owns 6,537 shares of the company’s stock valued at $657,000 after purchasing an additional 179 shares during the last quarter. Principal Street Partners LLC raised its position in Raytheon Technologies by 5.3% in the fourth quarter. Principal Street Partners LLC now owns 4,418 shares of the company’s stock valued at $446,000 after purchasing an additional 223 shares during the last quarter. Finally, Liberty One Investment Management LLC raised its position in Raytheon Technologies by 0.7% in the fourth quarter. Liberty One Investment Management LLC now owns 34,183 shares of the company’s stock valued at $3,450,000 after purchasing an additional 224 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.
Raytheon Technologies Company Profile
Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD).
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