Wall Street analysts expect Raytheon Technologies Co. (NYSE:RTX) to report $15.40 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Raytheon Technologies' earnings, with the lowest sales estimate coming in at $15.34 billion and the highest estimate coming in at $15.46 billion. Raytheon Technologies posted sales of $18.21 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 15.4%. The company is scheduled to announce its next quarterly earnings report on Thursday, May 6th.
According to Zacks, analysts expect that Raytheon Technologies will report full-year sales of $65.13 billion for the current year, with estimates ranging from $65.08 billion to $65.18 billion. For the next financial year, analysts anticipate that the company will post sales of $71.60 billion, with estimates ranging from $69.10 billion to $73.79 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that cover Raytheon Technologies.
Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings data on Monday, January 25th. The company reported $0.74 EPS for the quarter, topping the Zacks' consensus estimate of $0.69 by $0.05. Raytheon Technologies had a positive return on equity of 8.35% and a negative net margin of 3.77%. The firm had revenue of $16.42 billion for the quarter, compared to analyst estimates of $16.07 billion. During the same quarter last year, the company earned $1.16 EPS. The company's revenue was down 1.0% on a year-over-year basis.
A number of equities research analysts have weighed in on RTX shares. Zacks Investment Research raised Raytheon Technologies from a "sell" rating to a "hold" rating and set a $72.00 target price on the stock in a report on Friday, January 29th. DZ Bank raised Raytheon Technologies from a "hold" rating to a "buy" rating and set a $86.00 target price on the stock in a report on Thursday, December 17th. JPMorgan Chase & Co. raised their target price on Raytheon Technologies from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, December 15th. Finally, Credit Suisse Group reduced their target price on Raytheon Technologies from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, October 28th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. The company currently has a consensus rating of "Buy" and a consensus price target of $77.22.
Several hedge funds have recently bought and sold shares of the company. LGL Partners LLC raised its position in shares of Raytheon Technologies by 1.9% in the 4th quarter. LGL Partners LLC now owns 8,062 shares of the company's stock worth $576,000 after acquiring an additional 147 shares in the last quarter. JJJ Advisors Inc. raised its position in shares of Raytheon Technologies by 52.5% in the 4th quarter. JJJ Advisors Inc. now owns 453 shares of the company's stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Birinyi Associates Inc. raised its position in shares of Raytheon Technologies by 3.8% in the 4th quarter. Birinyi Associates Inc. now owns 4,340 shares of the company's stock worth $310,000 after acquiring an additional 160 shares in the last quarter. TAP Consulting LLC raised its position in shares of Raytheon Technologies by 4.1% in the 4th quarter. TAP Consulting LLC now owns 4,155 shares of the company's stock worth $297,000 after acquiring an additional 163 shares in the last quarter. Finally, Bristlecone Advisors LLC raised its position in shares of Raytheon Technologies by 0.6% in the 4th quarter. Bristlecone Advisors LLC now owns 27,137 shares of the company's stock worth $1,941,000 after acquiring an additional 165 shares in the last quarter. 75.09% of the stock is owned by hedge funds and other institutional investors.
Raytheon Technologies stock opened at $73.00 on Tuesday. The stock's fifty day moving average price is $70.25 and its two-hundred day moving average price is $65.71. Raytheon Technologies has a one year low of $40.72 and a one year high of $87.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.22 and a quick ratio of 0.95. The firm has a market cap of $110.92 billion, a PE ratio of -62.93, a price-to-earnings-growth ratio of 1.67 and a beta of 1.39.
Raytheon Technologies declared that its board has authorized a stock buyback program on Monday, December 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 4.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 25th. Shareholders of record on Friday, February 26th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, February 25th. Raytheon Technologies's payout ratio is presently 23.00%.
Raytheon Technologies Company Profile
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for commercial, military, and government customers worldwide. It operates in four businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
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