Equities research analysts expect Raytheon Technologies Co. (NYSE:RTX) to post sales of $16.48 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Raytheon Technologies’ earnings. The lowest sales estimate is $16.45 billion and the highest is $16.52 billion. Raytheon Technologies reported sales of $14.75 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.7%. The business is scheduled to report its next earnings report on Tuesday, October 26th.
On average, analysts expect that Raytheon Technologies will report full-year sales of $65.35 billion for the current year, with estimates ranging from $65.24 billion to $65.54 billion. For the next financial year, analysts forecast that the company will post sales of $71.95 billion, with estimates ranging from $71.65 billion to $72.18 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Raytheon Technologies.
Raytheon Technologies (NYSE:RTX) last released its earnings results on Monday, July 26th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $15.88 billion for the quarter, compared to the consensus estimate of $15.83 billion. Raytheon Technologies had a return on equity of 6.80% and a net margin of 3.51%. Raytheon Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share.
Shares of NYSE:RTX traded down $0.34 during midday trading on Tuesday, reaching $83.11. The company had a trading volume of 5,898,880 shares, compared to its average volume of 6,220,356. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $85.26 and its 200 day moving average price is $83.79. The stock has a market cap of $125.32 billion, a PE ratio of 57.72, a P/E/G ratio of 1.56 and a beta of 1.45. Raytheon Technologies has a 1-year low of $51.92 and a 1-year high of $89.98.
In related news, Director Robert Kelly Ortberg sold 60,000 shares of the stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $85.10, for a total value of $5,106,000.00. Following the completion of the sale, the director now directly owns 101,704 shares in the company, valued at $8,655,010.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wesley D. Kremer sold 5,512 shares of the stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $86.82, for a total value of $478,551.84. Following the sale, the insider now owns 73,519 shares of the company’s stock, valued at $6,382,919.58. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its stake in Raytheon Technologies by 1.1% in the first quarter. Victory Capital Management Inc. now owns 870,567 shares of the company’s stock worth $67,269,000 after purchasing an additional 9,431 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new stake in Raytheon Technologies during the first quarter worth about $73,000. Cowa LLC boosted its stake in Raytheon Technologies by 7.6% during the first quarter. Cowa LLC now owns 2,838 shares of the company’s stock worth $222,000 after acquiring an additional 200 shares in the last quarter. Ausdal Financial Partners Inc. boosted its stake in Raytheon Technologies by 5.6% during the first quarter. Ausdal Financial Partners Inc. now owns 10,294 shares of the company’s stock worth $795,000 after acquiring an additional 545 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Raytheon Technologies by 11.2% in the first quarter. Los Angeles Capital Management LLC now owns 36,219 shares of the company’s stock worth $2,799,000 after buying an additional 3,637 shares in the last quarter. Hedge funds and other institutional investors own 78.21% of the company’s stock.
Raytheon Technologies Company Profile
Raytheon Technologies Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems, Pratt and Whitney, Raytheon Intelligence and Space, and Raytheon Missiles and Defense.
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