Analysts expect that Raytheon Technologies Corp (NYSE:RTX) will report earnings per share (EPS) of $0.46 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Raytheon Technologies’ earnings, with estimates ranging from $0.40 to $0.53. Raytheon Technologies reported earnings per share of $2.21 in the same quarter last year, which would suggest a negative year over year growth rate of 79.2%. The business is scheduled to announce its next quarterly earnings results on Tuesday, October 27th.
On average, analysts expect that Raytheon Technologies will report full year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $2.45 to $3.78. For the next fiscal year, analysts anticipate that the business will report earnings of $3.78 per share, with EPS estimates ranging from $3.15 to $4.20. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Raytheon Technologies.
Raytheon Technologies (NYSE:RTX) last released its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.30. The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.39 billion. Raytheon Technologies had a positive return on equity of 11.59% and a negative net margin of 2.28%. Raytheon Technologies’s revenue was up 24.1% on a year-over-year basis.
RTX has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their target price on Raytheon Technologies from $69.00 to $66.00 in a research report on Friday, July 17th. Robert W. Baird reiterated an “outperform” rating and set a $101.00 price target on shares of Raytheon Technologies in a report on Friday, May 8th. Jefferies Financial Group lowered their price target on Raytheon Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a report on Monday, May 11th. Zacks Investment Research cut Raytheon Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, June 10th. Finally, Credit Suisse Group reissued a “buy” rating and set a $81.00 price target on shares of Raytheon Technologies in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $94.47.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Raytheon Technologies in the 2nd quarter valued at about $1,773,000. Hexavest Inc. bought a new stake in shares of Raytheon Technologies in the 2nd quarter valued at about $2,709,000. Envestnet Asset Management Inc. bought a new stake in shares of Raytheon Technologies in the 2nd quarter valued at about $100,841,000. Old Port Advisors bought a new stake in shares of Raytheon Technologies in the 2nd quarter valued at about $274,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Raytheon Technologies in the 1st quarter valued at about $323,000. Hedge funds and other institutional investors own 78.95% of the company’s stock.
NYSE:RTX opened at $56.68 on Thursday. The stock has a fifty day moving average price of $62.31 and a 200-day moving average price of $110.62. The company has a market cap of $49.09 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 1.54 and a beta of 0.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 1.20. Raytheon Technologies has a fifty-two week low of $40.72 and a fifty-two week high of $93.47.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a $0.475 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.35%. Raytheon Technologies’s dividend payout ratio (DPR) 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 through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
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