Brokerages Expect Raytheon Technologies Corp (NYSE:RTX) Will Post Quarterly Sales of $15.37 Billion

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.

A number of analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Raytheon Technologies in a research report on Tuesday, September 8th. They issued an “overweight” rating and a $89.00 target price on the stock. Cowen upped their target price on shares of Raytheon Technologies from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Credit Suisse Group reiterated a “buy” rating and issued a $81.00 price target on shares of Raytheon Technologies in a research note on Wednesday, July 29th. Argus cut shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Raytheon Technologies from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $94.17.

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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