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Analysts Anticipate Raytheon Technologies Co. (NYSE:RTX) Will Post Quarterly Sales of $15.80 Billion – MarketBeat

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Equities analysts forecast that Raytheon Technologies Co. (NYSE:RTXGet Rating) will post sales of $15.80 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Raytheon Technologies’ earnings, with estimates ranging from $15.67 billion to $16.05 billion. Raytheon Technologies reported sales of $15.25 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The company is scheduled to announce its next earnings report before the market opens on Monday, January 1st.
On average, analysts expect that Raytheon Technologies will report full-year sales of $68.78 billion for the current financial year, with estimates ranging from $68.44 billion to $69.21 billion. For the next fiscal year, analysts forecast that the business will report sales of $74.72 billion, with estimates ranging from $73.83 billion to $75.43 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Raytheon Technologies.
Raytheon Technologies (NYSE:RTXGet Rating) last released its quarterly earnings data on Tuesday, January 25th. The company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.07. The business had revenue of $17.04 billion for the quarter, compared to the consensus estimate of $17.28 billion. Raytheon Technologies had a net margin of 6.00% and a return on equity of 8.78%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share.
Several research firms have commented on RTX. Robert W. Baird upped their price objective on shares of Raytheon Technologies from $100.00 to $106.00 in a report on Wednesday, January 26th. Wolfe Research increased their price target on shares of Raytheon Technologies from $110.00 to $111.00 and gave the stock an “outperform” rating in a report on Wednesday, February 16th. StockNews.com initiated coverage on shares of Raytheon Technologies in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Royal Bank of Canada initiated coverage on shares of Raytheon Technologies in a report on Friday, April 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Raytheon Technologies from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $105.36.
NYSE RTX opened at $101.73 on Friday. The company has a market cap of $151.60 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. Raytheon Technologies has a 52 week low of $78.55 and a 52 week high of $106.02. The company has a quick ratio of 0.93, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $99.14 and its two-hundred day simple moving average is $92.11.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Friday, February 25th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, February 24th. Raytheon Technologies’s payout ratio is currently 79.38%.
In other Raytheon Technologies news, insider Wesley D. Kremer sold 15,083 shares of the stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $93.92, for a total transaction of $1,416,595.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael R. Dumais sold 7,443 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $101.45, for a total transaction of $755,092.35. The disclosure for this sale can be found here. Insiders have sold 34,749 shares of company stock worth $3,344,416 over the last quarter. Company insiders own 0.11% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Morgan Stanley boosted its holdings in Raytheon Technologies by 4.6% in the second quarter. Morgan Stanley now owns 23,861,231 shares of the company’s stock valued at $2,035,603,000 after acquiring an additional 1,050,028 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in Raytheon Technologies by 14.1% in the third quarter. Miracle Mile Advisors LLC now owns 7,403 shares of the company’s stock valued at $636,000 after acquiring an additional 916 shares in the last quarter. AE Wealth Management LLC boosted its holdings in Raytheon Technologies by 5.1% in the third quarter. AE Wealth Management LLC now owns 76,501 shares of the company’s stock valued at $6,576,000 after acquiring an additional 3,689 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in Raytheon Technologies by 0.9% in the third quarter. Mount Yale Investment Advisors LLC now owns 13,735 shares of the company’s stock valued at $1,181,000 after acquiring an additional 123 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in Raytheon Technologies by 3.0% in the third quarter. Royal London Asset Management Ltd. now owns 531,686 shares of the company’s stock valued at $45,685,000 after acquiring an additional 15,688 shares in the last quarter. Hedge funds and other institutional investors own 78.57% of the company’s stock.
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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