company background image

Raytheon Technologies NYSE:RTX Stock Report

Last Price


Market Cap







03 Oct, 2022


Company Financials +
RTX fundamental analysis
Snowflake Score
Future Growth2/6
Past Performance4/6
Financial Health5/6

RTX Stock Overview

Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide.

Raytheon Technologies Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Raytheon Technologies
Historical stock prices
Current Share PriceUS$83.11
52 Week HighUS$106.02
52 Week LowUS$79.00
1 Month Change-5.12%
3 Month Change-10.56%
1 Year Change-5.22%
3 Year Change-37.36%
5 Year Change-29.94%
Change since IPO1,097.98%

Recent News & Updates

Sep 28

Raytheon Technologies bags ~$278M modification contract for Naval Air Systems

Raytheon Technologies (NYSE:RTX) Pratt and Whitney Military Engines is awarded a not-to-exceed $277.92M modification (P00007) to a previously awarded cost-plus-incentive-fee, fixed-price-incentive-firm-target undefinitized contract (N0001920C0011).  This modification adds scope for the production and delivery of F-35 spares, to include four Short Takeoff and Vertical Landing spare engines for the U.S. Marine Corps and 20 power modules for the U.S. Air Force. Work is expected to be completed in October 2025. The Naval Air Systems Command is the contracting activity.

Sep 21

Raytheon awarded $160.17M by U.S. Navy

Raytheon Co (NYSE:RTX) has been awarded awarded a $160.17M firm-fixed-price, cost-plus-fixed-fee, and cost-only contract for Dual Band Radar (DBR) design agent and technical engineering efforts. Engineering efforts and supplies are required to support the DBR systems installed aboard CVN-78 and DDG-1000 class ships. This contract includes options which, if exercised, would bring the cumulative value of the contract to $440.64M. If all options are exercised, work will continue through September 2027.

Sep 13

Raytheon cuts free cash flow guidance to reflect research, experimentation capitalization

Raytheon Technologies (NYSE:RTX) on Tuesday cut its free cash flow outlook to reflect the impact of legislation requiring capitalization of research and experimentation for tax purposes. RTX now expects its 2022 free cash flow to be ~$4B instead of ~$6B. The company also reaffirmed its 2022 sales and adj. EPS guidance.

Sep 01
Does Raytheon Technologies (NYSE:RTX) Have A Healthy Balance Sheet?

Does Raytheon Technologies (NYSE:RTX) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Aug 30

Rockwell Collins, a Raytheon subsidiary nabs ~$177M contract for Air Force Life Cycle Management

Rockwell Collins, part of Raytheon (NYSE:RTX) has been awarded a $176.98M firm-fixed-price, ID/IQ contract for High Frequency Global Communications System (or HFGCS) – Scope Command Next Generation. This contract supports a ground radio equipment/network infrastructure and associated antenna subsystems in support of strategic military command and control communications. Work is expected to be completed by Aug. 30, 2028. This award is the result of a sole source acquisition. Air Force Life Cycle Management Center is the contracting activity (FA8102-22-D-0004). (Awarded on August 29, 2022)

Shareholder Returns

RTXUS Aerospace & DefenseUS Market

Return vs Industry: RTX underperformed the US Aerospace & Defense industry which returned -2.6% over the past year.

Return vs Market: RTX exceeded the US Market which returned -23.2% over the past year.

Price Volatility

Is RTX's price volatile compared to industry and market?
RTX volatility
RTX Average Weekly Movement3.7%
Aerospace & Defense Industry Average Movement6.1%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: RTX is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: RTX's weekly volatility (4%) has been stable over the past year.

About the Company

n/a174,000Greg Hayes

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. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.

Raytheon Technologies Fundamentals Summary

How do Raytheon Technologies's earnings and revenue compare to its market cap?
RTX fundamental statistics
Market CapUS$122.32b
Earnings (TTM)US$4.49b
Revenue (TTM)US$65.29b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
RTX income statement (TTM)
Cost of RevenueUS$52.09b
Gross ProfitUS$13.20b
Other ExpensesUS$8.71b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)3.05
Gross Margin20.22%
Net Profit Margin6.88%
Debt/Equity Ratio43.6%

How did RTX perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is RTX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RTX?

Other financial metrics that can be useful for relative valuation.

RTX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.3x
Enterprise Value/EBITDA13.5x
PEG Ratio1.7x

Price to Earnings Ratio vs Peers

How does RTX's PE Ratio compare to its peers?

RTX PE Ratio vs Peers
The above table shows the PE ratio for RTX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average18.9x
LMT Lockheed Martin
NOC Northrop Grumman
GD General Dynamics
LHX L3Harris Technologies
RTX Raytheon Technologies

Price-To-Earnings vs Peers: RTX is expensive based on its Price-To-Earnings Ratio (27.2x) compared to the peer average (18.9x).

Price to Earnings Ratio vs Industry

How does RTX's PE Ratio compare vs other companies in the US Aerospace & Defense Industry?

Price-To-Earnings vs Industry: RTX is expensive based on its Price-To-Earnings Ratio (27.2x) compared to the US Aerospace & Defense industry average (23.9x)

Price to Earnings Ratio vs Fair Ratio

What is RTX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

RTX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.2x
Fair PE Ratio31.8x

Price-To-Earnings vs Fair Ratio: RTX is good value based on its Price-To-Earnings Ratio (27.2x) compared to the estimated Fair Price-To-Earnings Ratio (31.8x).

Share Price vs Fair Value

What is the Fair Price of RTX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RTX ($83.11) is trading below our estimate of fair value ($218.1)

Significantly Below Fair Value: RTX is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

Discover undervalued companies

Future Growth

How is Raytheon Technologies forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

Future Growth Score


Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: RTX's forecast earnings growth (16.4% per year) is above the savings rate (1.9%).

Earnings vs Market: RTX's earnings (16.4% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: RTX's earnings are forecast to grow, but not significantly.

Revenue vs Market: RTX's revenue (6.9% per year) is forecast to grow slower than the US market (7.7% per year).

High Growth Revenue: RTX's revenue (6.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: RTX's Return on Equity is forecast to be low in 3 years time (12.4%).

Discover growth companies

Past Performance

How has Raytheon Technologies performed over the past 5 years?

Past Performance Score


Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: RTX has high quality earnings.

Growing Profit Margin: RTX's current net profit margins (6.9%) are higher than last year (3.4%).

Past Earnings Growth Analysis

Earnings Trend: RTX's earnings have declined by 19.2% per year over the past 5 years.

Accelerating Growth: RTX's earnings growth over the past year (113%) exceeds its 5-year average (-19.2% per year).

Earnings vs Industry: RTX earnings growth over the past year (113%) exceeded the Aerospace & Defense industry 11.9%.

Return on Equity

High ROE: RTX's Return on Equity (6.5%) is considered low.

Discover strong past performing companies

Financial Health

How is Raytheon Technologies's financial position?

Financial Health Score


Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: RTX's short term assets ($41.5B) exceed its short term liabilities ($37.8B).

Long Term Liabilities: RTX's short term assets ($41.5B) do not cover its long term liabilities ($49.2B).

Debt to Equity History and Analysis

Debt Level: RTX's net debt to equity ratio (37%) is considered satisfactory.

Reducing Debt: RTX's debt to equity ratio has reduced from 87.1% to 43.6% over the past 5 years.

Debt Coverage: RTX's debt is well covered by operating cash flow (21.7%).

Interest Coverage: RTX's interest payments on its debt are well covered by EBIT (5.5x coverage).

Balance Sheet

Discover healthy companies


What is Raytheon Technologies's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Raytheon Technologies Dividend Yield vs Market
How does Raytheon Technologies dividend yield compare to the market?
SegmentDividend Yield
Company (Raytheon Technologies)2.6%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Aerospace & Defense)2.1%
Analyst forecast in 3 Years (Raytheon Technologies)2.8%

Notable Dividend: RTX's dividend (2.65%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: RTX's dividend (2.65%) is low compared to the top 25% of dividend payers in the US market (4.75%).

Stability and Growth of Payments

Stable Dividend: RTX's dividend payments have been volatile in the past 10 years.

Growing Dividend: RTX's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (68.9%), RTX's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (75.6%), RTX's dividend payments are covered by cash flows.

Discover strong dividend paying companies


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Greg Hayes (61 yo)





Mr. Gregory J. Hayes, also known as Greg, serves as Independent Director at Phillips 66 since July 12, 2022. He is the Chairman of the Board at Raytheon Technologies Corporation since June 01, 2021 and ser...

CEO Compensation Analysis

Greg Hayes's Compensation vs Raytheon Technologies Earnings
How has Greg Hayes's remuneration changed compared to Raytheon Technologies's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a


Mar 31 2022n/an/a


Dec 31 2021US$23mUS$2m


Sep 30 2021n/an/a


Jun 30 2021n/an/a


Mar 31 2021n/an/a


Dec 31 2020US$21mUS$1m


Sep 30 2020n/an/a


Jun 30 2020n/an/a


Mar 31 2020n/an/a


Dec 31 2019US$22mUS$2m


Sep 30 2019n/an/a


Jun 30 2019n/an/a


Mar 31 2019n/an/a


Dec 31 2018US$18mUS$2m


Sep 30 2018n/an/a


Jun 30 2018n/an/a


Mar 31 2018n/an/a


Dec 31 2017US$17mUS$2m


Sep 30 2017n/an/a


Jun 30 2017n/an/a


Mar 31 2017n/an/a


Dec 31 2016US$16mUS$1m


Sep 30 2016n/an/a


Jun 30 2016n/an/a


Mar 31 2016n/an/a


Dec 31 2015US$11mUS$1m


Compensation vs Market: Greg's total compensation ($USD23.32M) is above average for companies of similar size in the US market ($USD13.04M).

Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: RTX's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Experienced Board: RTX's board of directors are considered experienced (3.2 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

NYSE:RTX Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
27 Apr 22BuyUS$19,800James WinnefeldIndividual200US$99.00
18 Feb 22SellUS$499,992Tracy AtkinsonIndividual5,340US$93.63
17 Feb 22SellUS$1,416,656Wesley KremerIndividual15,083US$93.92
05 Nov 21SellUS$271,623Michael DumaisIndividual3,000US$90.54

Ownership Breakdown

What is the ownership structure of RTX?
Owner TypeNumber of SharesOwnership Percentage
Private Companies73,2820.005%
State or Government635,4360.04%
Individual Insiders1,448,6130.1%
General Public272,945,77718.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 57.31% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
State Street Global Advisors, Inc.
Capital Research and Management Company
The Vanguard Group, Inc.
BlackRock, Inc.
Wellington Management Group LLP
Dodge & Cox
J.P. Morgan Asset Management, Inc.
Geode Capital Management, LLC
Morgan Stanley, Investment Banking and Brokerage Investments
ClearBridge Investments, LLC
BNY Mellon Asset Management
Franklin Resources, Inc.
Columbia Management Investment Advisers, LLC
UBS Asset Management
Norges Bank Investment Management
Northern Trust Global Investments
Teachers Insurance and Annuity Association-College Retirement Equities Fund
Invesco Ltd.
Charles Schwab Investment Management, Inc.
Wells Fargo & Company, Securities and Brokerage Investments
AllianceBernstein L.P.
Merrill Lynch & Co. Inc., Banking Investments
Fisher Asset Management, LLC
Massachusetts Financial Services Company

Company Information

Raytheon Technologies Corporation's employee growth, exchange listings and data sources

Key Information

  • Name: Raytheon Technologies Corporation
  • Ticker: RTX
  • Exchange: NYSE
  • Founded: NaN
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Implied Market Cap: US$122.318b
  • Shares outstanding: 1.47b
  • Website:

Number of Employees


  • Raytheon Technologies Corporation
  • 870 Winter Street
  • Waltham
  • Massachusetts
  • 2451
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RTXNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1968
5URDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1968
UTXBRSE (Berne Stock Exchange)YesCommon StockCHCHFJan 1968
0R2NLSE (London Stock Exchange)YesCommon StockGBUSDJan 1968
RTX *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJan 1968
RTXSNSE (Santiago Stock Exchange)YesCommon StockCLUSDJan 1968
RTXWBAG (Wiener Boerse AG)YesCommon StockATEURJan 1968
RTXBASE (Buenos Aires Stock Exchange)CEDEARS REP 1/5 COM USD1ARARSJul 2001
RTXDBASE (Buenos Aires Stock Exchange)CEDEARS REP 1/5 COM USD1ARUSDJul 2001
RYTT34BOVESPA (Bolsa de Valores de Sao Paulo)EACH BDR REPR 1 COM USD1BRBRLDec 2014

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/03 00:00
End of Day Share Price2022/10/03 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.