Solid News

Raytheon Technologies Corp. Market Update

12/6/2022 2:38 PM

The stocks of one of the largest financial and industrial groups in the USA Raytheon Technologies Corp. continue to be in a corrective trend and are trading near the 100.00 mark.

The company continues to expand its presence in the market, and after receiving a contract from the Pentagon for the development of a cruise hypersonic missile in the amount of 985.0M dollars, it became known that the US State Department approved the sale of AIM 9X Block II tactical missiles and related equipment to Finland for a total amount exceeding 323.3M dollars, and Raytheon Technologies Corp. will perform as the main contractor for the implementation of this order.

As for the financial component, the report for Q3 2022 indicated that there are still problems with supplies, which provoke a slowdown in the growth rate of production and sales of products. Thus, sales of 17.0B dollars were reported, which was 5.0% higher than last year, and adjusted earnings per share amounted to 1.21 dollars, which is lower than last year's figure by 4.0%.

In its forecast for the end of the year, the company expects sales in the range of 67.0–67.3B dollars, which is lower than earlier expectations of 67.75–68.75B dollars. The forecast of earnings per share was slightly raised and now stands at 4.70–4.80 dollars instead of 4.60–4.80 dollars earlier. 

In addition, Raytheon Technologies Corp. confirmed its intention to complete the repurchase of shares totaling 2.5B dollars, as well as to send quarterly dividends of 0.55 dollars per share on December 15.

On the daily chart, the quotes continue to move in the global correction channel, approaching the maximum line of this spring.

The trend indicator "alligator" holds the buy signal, expanding the range of fluctuations of the EMA, and the AO oscillator, being in the buy zone, still forms bars above the transition level.         

Support levels: 98.00, 93.00. | Resistance levels: 102.00, 105.50.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023