Raytheon Technologies (NYSE:RTX) Releases FY 2022 Earnings Guidance – MarketBeat
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Raytheon Technologies (NYSE:RTX – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. 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.
Raytheon Technologies Trading Up 0.2 %
NYSE:RTX opened at $84.16 on Tuesday. Raytheon Technologies has a twelve month low of $79.00 and a twelve month high of $106.02. The company has a quick ratio of 0.83, a current ratio of 1.10 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $88.60 and a two-hundred day moving average price of $93.23. The company has a market cap of $123.86 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.73 and a beta of 0.75.
Raytheon Technologies (NYSE:RTX – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. Raytheon Technologies had a return on equity of 9.48% and a net margin of 6.84%. The firm had revenue of $16.31 billion during the quarter, compared to the consensus estimate of $16.61 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that Raytheon Technologies will post 4.66 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
RTX has been the subject of a number of recent research reports. Vertical Research reduced their price target on Raytheon Technologies to $120.00 and set an outperform rating for the company in a research report on Wednesday, July 27th. Wolfe Research began coverage on Raytheon Technologies in a research note on Monday. They set a market perform rating on the stock. Finally, StockNews.com upgraded Raytheon Technologies from a hold rating to a buy rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $114.10.
Institutional Investors Weigh In On Raytheon Technologies
A number of large investors have recently added to or reduced their stakes in RTX. Capital World Investors raised its stake in Raytheon Technologies by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after acquiring an additional 2,256,475 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Raytheon Technologies by 137.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,110,424 shares of the company’s stock valued at $209,080,000 after acquiring an additional 1,220,826 shares during the period. Royal Bank of Canada raised its stake in Raytheon Technologies by 4.7% in the 1st quarter. Royal Bank of Canada now owns 6,575,791 shares of the company’s stock valued at $651,464,000 after acquiring an additional 294,366 shares during the period. Cowa LLC grew its holdings in Raytheon Technologies by 9,820.0% in the 1st quarter. Cowa LLC now owns 286,786 shares of the company’s stock valued at $284,000 after buying an additional 283,895 shares in the last quarter. Finally, PointState Capital LP acquired a new position in Raytheon Technologies in the 1st quarter valued at $27,754,000. Institutional investors own 79.89% of the company’s stock.
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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