Raytheon Technologies Co. (NYSE:RTX) Forecasted to Earn FY2023 Earnings of $5.20 Per Share – MarketBeat

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Raytheon Technologies Co. (NYSE:RTX – Get Rating) – Research analysts at Jefferies Financial Group lowered their FY2023 earnings per share (EPS) estimates for shares of Raytheon Technologies in a note issued to investors on Sunday, October 30th. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the company will post earnings per share of $5.20 for the year, down from their prior forecast of $5.35. The consensus estimate for Raytheon Technologies’ current full-year earnings is $4.77 per share. Jefferies Financial Group also issued estimates for Raytheon Technologies’ FY2024 earnings at $5.80 EPS and FY2025 earnings at $6.50 EPS.
Several other brokerages also recently issued reports on RTX. Royal Bank of Canada cut their price target on Raytheon Technologies from $107.00 to $102.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Morgan Stanley cut their price target on Raytheon Technologies from $124.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Robert W. Baird cut their price target on Raytheon Technologies from $117.00 to $106.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Credit Suisse Group cut their price target on Raytheon Technologies from $85.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, October 26th. Finally, Vertical Research cut their price target on Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Raytheon Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.73.

Raytheon Technologies Trading Down 0.3 %

NYSE:RTX opened at $94.82 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $86.85 and its two-hundred day moving average is $91.93. Raytheon Technologies has a 52 week low of $79.00 and a 52 week high of $106.02. The company has a market cap of $139.39 billion, a PE ratio of 31.61, a P/E/G ratio of 2.11 and a beta of 0.75.
Raytheon Technologies (NYSE:RTX – Get Rating) last released its earnings results on Tuesday, October 25th. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.07. Raytheon Technologies had a return on equity of 9.36% and a net margin of 6.76%. The company had revenue of $16.95 billion for the quarter, compared to the consensus estimate of $17.25 billion. During the same quarter last year, the business posted $1.26 EPS. Raytheon Technologies’s quarterly revenue was up 4.6% compared to the same quarter last year.

Raytheon Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 18th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, November 17th. Raytheon Technologies’s dividend payout ratio is currently 73.33%.

Insider Activity at Raytheon Technologies

In other news, EVP Dantaya M. Williams sold 1,206 shares of Raytheon Technologies stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $92.01, for a total transaction of $110,964.06. Following the transaction, the executive vice president now directly owns 10,596 shares in the company, valued at approximately $974,937.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Raytheon Technologies

Hedge funds have recently modified their holdings of the stock. Nauset Wealth Management. LLC acquired a new position in shares of Raytheon Technologies in the 1st quarter worth $30,000. FSC Wealth Advisors LLC acquired a new position in shares of Raytheon Technologies in the 3rd quarter worth $25,000. SJS Investment Consulting Inc. acquired a new stake in shares of Raytheon Technologies in the third quarter worth $26,000. Coston McIsaac & Partners acquired a new stake in shares of Raytheon Technologies in the second quarter worth $31,000. Finally, Private Ocean LLC boosted its position in shares of Raytheon Technologies by 65.3% in the third quarter. Private Ocean LLC now owns 329 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the period. 79.89% of the stock is currently owned by institutional investors and hedge funds.

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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