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

Raytheon Technologies (NYSE:RTXGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $4.60-$4.80 for the period, compared to the consensus EPS estimate of $4.71. The company issued revenue guidance of $67.75 billion-$68.75 billion, compared to the consensus revenue estimate of $67.74 billion.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Raytheon Technologies from a hold rating to a buy rating in a research report on Thursday, August 4th. Vertical Research dropped their target price on shares of Raytheon Technologies to $120.00 and set an outperform rating for the company in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s 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.

Raytheon Technologies Trading Down 1.7 %

Shares of RTX traded down $1.39 during midday trading on Friday, hitting $82.06. The stock had a trading volume of 46,623 shares, compared to its average volume of 4,894,739. Raytheon Technologies has a 1 year low of $79.00 and a 1 year high of $106.02. The firm has a market cap of $121.16 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.72 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.10 and a quick ratio of 0.83. The stock’s 50 day moving average is $90.89 and its 200 day moving average is $94.56.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 EPS 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 net margin of 6.84% and a return on equity of 9.48%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. As a group, analysts forecast that Raytheon Technologies will post 4.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wall Street Access Asset Management LLC increased its stake in Raytheon Technologies by 132.5% in the 1st quarter. Wall Street Access Asset Management LLC now owns 3,720 shares of the company’s stock worth $368,000 after buying an additional 2,120 shares during the period. Eudaimonia Advisors LLC grew its holdings in Raytheon Technologies by 50.9% during the 1st quarter. Eudaimonia Advisors LLC now owns 3,607 shares of the company’s stock worth $357,000 after acquiring an additional 1,217 shares in the last quarter. Plancorp LLC grew its holdings in Raytheon Technologies by 9.0% during the 1st quarter. Plancorp LLC now owns 3,260 shares of the company’s stock worth $323,000 after acquiring an additional 269 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new position in Raytheon Technologies during the 1st quarter worth about $303,000. Finally, Cowa LLC grew its holdings in Raytheon Technologies by 9,820.0% during the 1st quarter. Cowa LLC now owns 286,786 shares of the company’s stock worth $284,000 after acquiring an additional 283,895 shares in the last quarter. Hedge funds and other institutional investors own 79.89% of the company’s stock.

Raytheon Technologies Company Profile

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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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