Raytheon Technologies (NYSE:RTX) Updates FY 2022 Earnings Guidance

Raytheon Technologies (NYSE:RTXGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.60-$4.80 for the period, compared to the consensus estimate of $4.77. The company issued revenue guidance of $67.75 billion-$68.75 billion, compared to the consensus revenue estimate of $68.30 billion.

Raytheon Technologies Stock Performance

Shares of RTX stock traded up $0.25 during trading hours on Friday, hitting $93.03. The company’s stock had a trading volume of 3,320,349 shares, compared to its average volume of 4,587,316. The company has a current ratio of 1.10, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $93.78 and a 200 day moving average of $95.50. Raytheon Technologies has a 12-month low of $79.00 and a 12-month high of $106.02. The stock has a market cap of $137.36 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

Raytheon Technologies (NYSE:RTXGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. The company had revenue of $16.31 billion for the quarter, compared to the consensus estimate of $16.61 billion. Raytheon Technologies had a return on equity of 9.48% and a net margin of 6.84%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. On average, sell-side analysts forecast that Raytheon Technologies will post 4.68 EPS for the current fiscal year.

Raytheon Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 19th will be given a $0.55 dividend. The ex-dividend date is Thursday, August 18th. This represents a $2.20 annualized dividend and a yield of 2.36%. Raytheon Technologies’s dividend payout ratio is presently 73.58%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Cowen boosted their target price on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. StockNews.com upgraded Raytheon Technologies from a hold rating to a buy rating in a research report on Thursday. Royal Bank of Canada assumed coverage on Raytheon Technologies in a report on Friday, April 8th. They issued an outperform rating and a $125.00 price target for the company. Argus raised their price objective on Raytheon Technologies from $100.00 to $112.00 in a report on Wednesday, April 27th. Finally, Cowen upped their target price on Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $114.10.

Hedge Funds Weigh In On Raytheon Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors lifted its position in Raytheon Technologies by 32.8% during the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after buying an additional 2,256,475 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Raytheon Technologies by 4.7% during the 1st quarter. Royal Bank of Canada now owns 6,575,791 shares of the company’s stock valued at $651,464,000 after acquiring an additional 294,366 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Raytheon Technologies by 137.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,110,424 shares of the company’s stock valued at $209,080,000 after purchasing an additional 1,220,826 shares during the period. First Trust Advisors LP increased its position in Raytheon Technologies by 0.7% during the first quarter. First Trust Advisors LP now owns 835,343 shares of the company’s stock worth $82,757,000 after purchasing an additional 5,569 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Raytheon Technologies by 8.6% during the first quarter. Mackenzie Financial Corp now owns 610,928 shares of the company’s stock worth $60,525,000 after purchasing an additional 48,195 shares during the period. 79.56% of the stock is owned by hedge funds and other institutional investors.

About Raytheon Technologies

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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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Earnings History and Estimates for Raytheon Technologies (NYSE:RTX)

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