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Raytheon Technologies Corp - Stock Quote RTX

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Morningstar's Raytheon Technologies Corp Stock Analysis

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1-Star Price

PREMIUM

5-Star Price

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Economic Moat

PREMIUM

Capital Allocation

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Raytheon Technologies Benefits From Increased Commercial Aerospace Activity in Q1

Burkett Huey, CFA Equity Analyst

Analyst Note

| Burkett Huey, CFA |

Wide-moat-rated Raytheon Technologies reported a bifurcated first quarter as commercial aviation-related sales continued to accelerate while defense sales did not yet benefit from an enacted fiscal 2022 defense budget. Sales of $15.7 billion missed FactSet consensus by 0.5%, but adjusted EPS of $1.15 beat these estimates by 13.3%. We are raising our fair value estimate to $94 per share from $90 as we increase our growth rate for the defense businesses to account for increased geopolitical tension affecting U.S. and global defense budgets.

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Raytheon Technologies Corp's Company Profile

Business Description

Raytheon Technologies is a diversified aerospace and defense industrial company formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to the commercial aerospace manufactures and to the defense market as a prime and subprime contractor. The company operates in four segments: Pratt & Whitney, an engine manufacturer; Collins Aerospace, a diversified aerospace supplier; intelligence, space and airborne systems, a mix between a sensors business and a government IT contractor; and integrated defense and missile systems, a defense prime contractor focusing on missiles and missile defense hardware.

Contact
870 Winter Street
Waltham, MA, 02451
T +1 781 522-3000
Sector Industrials
Industry Aerospace & Defense
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 174,000

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