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

Raytheon Technologies (NYSE:RTXGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.600-$4.800 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.790. The company issued revenue guidance of $67.75 billion-$68.75 billion, compared to the consensus revenue estimate of $69.03 billion.Raytheon Technologies also updated its FY22 guidance to $4.60-4.80 EPS.

Shares of NYSE RTX opened at $98.08 on Friday. Raytheon Technologies has a 12 month low of $79.00 and a 12 month high of $106.02. The company has a 50-day simple moving average of $99.66 and a 200-day simple moving average of $92.44. The company has a market cap of $146.17 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 0.93.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its earnings results on Tuesday, April 26th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. The business had revenue of $15.72 billion for the quarter, compared to analysts’ expectations of $15.83 billion. Raytheon Technologies had a net margin of 6.00% and a return on equity of 8.78%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. On average, analysts anticipate that Raytheon Technologies will post 4.79 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Friday, May 20th will be given a dividend of $0.55 per share. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, May 19th. This represents a $2.20 annualized dividend and a dividend yield of 2.24%. Raytheon Technologies’s dividend payout ratio (DPR) is 79.38%.

RTX has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Raytheon Technologies from $97.00 to $96.00 and set an equal weight rating for the company in a research report on Wednesday, January 26th. Morgan Stanley raised their price objective on shares of Raytheon Technologies from $118.00 to $124.00 and gave the stock an overweight rating in a research note on Wednesday, March 2nd. Royal Bank of Canada assumed coverage on Raytheon Technologies in a report on Friday, April 8th. They set an outperform rating and a $125.00 price objective for the company. Barclays lifted their price target on Raytheon Technologies from $100.00 to $107.00 and gave the company an overweight rating in a report on Thursday, March 10th. Finally, Robert W. Baird lifted their price objective on Raytheon Technologies from $100.00 to $106.00 in a research report on Wednesday, January 26th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $107.94.

In related news, EVP Michael R. Dumais sold 7,443 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $101.45, for a total value of $755,092.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wesley D. Kremer sold 15,083 shares of the firm’s stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $93.92, for a total value of $1,416,595.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,749 shares of company stock valued at $3,344,416. Corporate insiders own 0.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RTX. NewEdge Advisors LLC lifted its holdings in Raytheon Technologies by 72.8% in the 4th quarter. NewEdge Advisors LLC now owns 86,806 shares of the company’s stock worth $7,470,000 after purchasing an additional 36,581 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Raytheon Technologies by 12.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 24,657 shares of the company’s stock worth $2,122,000 after buying an additional 2,750 shares during the period. Carroll Investors Inc purchased a new stake in shares of Raytheon Technologies in the 4th quarter worth $43,000. Zullo Investment Group Inc. purchased a new stake in shares of Raytheon Technologies in the 4th quarter worth $287,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Raytheon Technologies by 14.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 99,104 shares of the company’s stock worth $8,529,000 after purchasing an additional 12,474 shares during the last quarter. Institutional investors own 78.57% of the company’s stock.

Raytheon Technologies Company Profile (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.

Further Reading

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

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