Brokerages expect that Raytheon Technologies Corp (NYSE:RTX) will report $15.37 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Raytheon Technologies’ earnings. The lowest sales estimate is $15.35 billion and the highest is $15.40 billion. Raytheon Technologies reported sales of $19.50 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 21.2%. The firm is expected to announce its next quarterly earnings report on Tuesday, October 27th.
On average, analysts expect that Raytheon Technologies will report full year sales of $64.28 billion for the current year, with estimates ranging from $63.01 billion to $65.10 billion. For the next fiscal year, analysts expect that the firm will post sales of $68.14 billion, with estimates ranging from $66.96 billion to $70.48 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Raytheon Technologies.
Raytheon Technologies (NYSE:RTX) last released its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.30. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.39 billion. Raytheon Technologies had a negative net margin of 2.28% and a positive return on equity of 11.59%. Raytheon Technologies’s quarterly revenue was up 24.1% compared to the same quarter last year.
Several large investors have recently modified their holdings of the company. Harvest Group Wealth Management LLC lifted its stake in shares of Raytheon Technologies by 77.6% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 460 shares of the company’s stock worth $28,000 after purchasing an additional 201 shares during the period. Jacobi Capital Management LLC bought a new position in shares of Raytheon Technologies in the 2nd quarter worth approximately $761,000. Valeo Financial Advisors LLC lifted its stake in shares of Raytheon Technologies by 0.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 63,397 shares of the company’s stock worth $3,908,000 after purchasing an additional 325 shares during the period. Watson Rebecca lifted its stake in shares of Raytheon Technologies by 3.1% in the 2nd quarter. Watson Rebecca now owns 13,241 shares of the company’s stock worth $816,000 after purchasing an additional 401 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Raytheon Technologies in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.
Shares of NYSE:RTX traded down $0.23 during midday trading on Tuesday, reaching $59.79. The company’s stock had a trading volume of 5,881,557 shares, compared to its average volume of 11,566,320. The firm has a 50 day moving average of $61.26 and a 200-day moving average of $72.95. The firm has a market capitalization of $91.34 billion, a P/E ratio of 7.24, a PEG ratio of 1.63 and a beta of 1.22. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. Raytheon Technologies has a 12-month low of $40.72 and a 12-month high of $93.47.
About Raytheon Technologies
Raytheon Technologies Corporation, an aerospace and defense company, provides advanced systems and services for 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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