RTX Reports Q2 2023 Results
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Morgan Stanley cuts Raytheon (RTX) to equal-weight as GTF engine defect weighs
July 26, 2023 9:37 AM EDTMorgan Stanley downgraded Raytheon Technologies (NYSE: RTX) to an equal-weight rating (From Overweight) and cut their 12-month price target on the stock to $95.00 (from: $110.00) after the aerospace and defense company reported an unexpected manufacturing defect during their 2Q earnings report.
RTX saw a drop of 10.2% in their share price on Tuesday, following the disclosure of a manufacturing flaw associated with the Pratt & Whitney high pressure turbine (HPT) discs used in the Airbus A320neo Geared Turbofan (GTF) engine. The defect traces back to contaminated powdered metals produced from 2015 to 2021, impacting the... More
Raytheon Technologies (RTX) Tops Q2 EPS by 11c, Updates Guidance
July 25, 2023 6:56 AM EDTRaytheon Technologies (NYSE: RTX) reported Q2 EPS of $1.29, $0.11 better than the analyst estimate of $1.18. Revenue for the quarter came in at $18.3 billion versus the consensus estimate of $17.68 billion.
GUIDANCE:
Raytheon Technologies sees FY2023 EPS of $4.95-$5.05, versus the consensus of $5.02.... More
