Jefferies Financial Group Weighs in on Raytheon Technologies Co.’s Q4 2022 Earnings (NYSE:RTX)

Raytheon Technologies Co. (NYSE:RTX – Get Rating) – Jefferies Financial Group lowered their Q4 2022 earnings estimates for Raytheon Technologies in a note issued to investors on Sunday, July 31st. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the company will earn $1.11 per share for the quarter, down from their prior estimate of $1.22. The consensus estimate for Raytheon Technologies’ current full-year earnings is $4.68 per share.

Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $16.31 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Raytheon Technologies had a net margin of 6.84% and a return on equity of 9.48%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Raytheon Technologies from $125.00 to $115.00 and set a “maintains” rating for the company in a research note on Wednesday, July 27th. StockNews.com lowered shares of Raytheon Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Wells Fargo & Company lowered their price objective on shares of Raytheon Technologies from $106.00 to $98.00 and set a “maintains” rating for the company in a research note on Wednesday, July 27th. Vertical Research lowered their price objective on shares of Raytheon Technologies to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Argus increased their price target on shares of Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.30.

Raytheon Technologies Stock Up 0.8 %

NYSE:RTX opened at $94.53 on Wednesday. Raytheon Technologies has a 1-year low of $79.00 and a 1-year high of $106.02. The company has a 50-day moving average of $93.90 and a 200 day moving average of $95.48. The firm has a market cap of $139.57 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.10 and a quick ratio of 0.83.

Hedge Funds Weigh In On Raytheon Technologies

Several hedge funds and other institutional investors have recently modified their holdings of RTX. Shore Point Advisors LLC purchased a new position in shares of Raytheon Technologies in the 4th quarter valued at approximately $25,000. Stuart Chaussee & Associates Inc. increased its holdings in Raytheon Technologies by 135.5% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 259 shares of the company’s stock worth $26,000 after buying an additional 149 shares during the period. Nauset Wealth Management. LLC acquired a new position in Raytheon Technologies in the 1st quarter worth approximately $30,000. Win Advisors Inc. increased its holdings in Raytheon Technologies by 50.0% in the 2nd quarter. Win Advisors Inc. now owns 375 shares of the company’s stock worth $36,000 after buying an additional 125 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new position in Raytheon Technologies in the 4th quarter worth approximately $37,000. 79.56% of the stock is owned by hedge funds and other institutional investors.

Raytheon Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, August 18th. Raytheon Technologies’s payout ratio is currently 73.58%.

Raytheon Technologies Company Profile

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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.