Raytheon Technologies (NYSE:RTX) Issues Q1 2021 Earnings Guidance

Raytheon Technologies (NYSE:RTX) updated its first quarter 2021 earnings guidance on Tuesday. The company provided EPS guidance of 0.870-0.900 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.730. The company issued revenue guidance of $15.10 B-, compared to the consensus revenue estimate of $15.31 billion.Raytheon Technologies also updated its FY 2021 guidance to 3.500-3.700 EPS.

A number of brokerages have recently issued reports on RTX. Wolfe Research began coverage on shares of Raytheon Technologies in a report on Thursday, April 15th. They set an outperform rating and a $97.00 price objective for the company. LADENBURG THALM/SH SH upgraded shares of Raytheon Technologies from a neutral rating to a buy rating and set a $100.00 price objective for the company in a report on Monday. Langenberg & Company upgraded shares of Raytheon Technologies from a hold rating to a buy rating in a report on Monday. Susquehanna lifted their price objective on shares of Raytheon Technologies from $91.00 to $97.00 and gave the company a positive rating in a report on Wednesday, April 28th. Finally, Zacks Investment Research cut shares of Raytheon Technologies from a buy rating to a hold rating and set a $88.00 price objective for the company. in a report on Friday. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Raytheon Technologies currently has a consensus rating of Buy and a consensus price target of $85.44.

Shares of NYSE RTX traded down $0.20 during midday trading on Tuesday, hitting $83.94. The company’s stock had a trading volume of 9,232,012 shares, compared to its average volume of 7,323,856. The stock has a fifty day moving average price of $78.75 and a 200 day moving average price of $71.64. Raytheon Technologies has a one year low of $51.13 and a one year high of $84.59. The company has a current ratio of 1.22, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $127.18 billion, a price-to-earnings ratio of -72.53, a P/E/G ratio of 1.67 and a beta of 1.39.

Raytheon Technologies (NYSE:RTX) last posted its quarterly earnings results on Monday, April 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. Raytheon Technologies had a negative net margin of 3.77% and a positive return on equity of 8.35%. The company had revenue of $15.25 billion for the quarter, compared to analyst estimates of $15.27 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. On average, equities research analysts predict that Raytheon Technologies will post 3.01 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Friday, May 21st will be given a $0.51 dividend. The ex-dividend date is Thursday, May 20th. This represents a $2.04 annualized dividend and a dividend yield of 2.43%. This is a positive change from Raytheon Technologies’s previous quarterly dividend of $0.48. Raytheon Technologies’s payout ratio is 23.00%.

In other news, EVP Frank R. Jimenez sold 19,713 shares of the business’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $82.47, for a total value of $1,625,731.11. Following the sale, the executive vice president now owns 62,221 shares of the company’s stock, valued at $5,131,365.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

About Raytheon Technologies

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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