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MarketScreener Homepage  >  Equities  >  Nyse  >  Raytheon Technologies Corporation    RTX

RAYTHEON TECHNOLOGIES CORPORATION

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United Tech's Carrier Unit Lays Out Standalone Strategy

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02/10/2020 | 11:54am EDT

By Colin Kellaher

 

Carrier Global Corp., the heating, ventilation and air-conditioning company being spun off by United Technologies, on Monday outlined its strategy to boost revenue and earnings on a standalone basis, including a $600 million cost-cutting plan.

In an investor presentation, Carrier said it expects to drive growth by investing in its sales force and product innovation; increasing product extensions and geographic coverage; and culling $600 million of supply-chain, factory and general-and-administrative expenses by the end of 2022.

The company said it will increase its sales force by about 500 employees and boost research-and-development spending by roughly $50 million.

Carrier said it expects sales to rise slightly this year from $18.6 billion in 2019, and it forecast an increase of $25 million to $75 million in adjusted operating profit.

Over the medium term, Carrier said it is targeting mid-single-digit sales growth, high-single-digit adjusted per-share earnings growth, and 90% to 100% free cash flow conversion.

United Technologies is spinning off Carrier and its Otis Elevator units into separate, publicly traded companies as part of a transformation that also involves a $135 billion deal to combine its Collins Aerospace and Pratt & Whitney units with Raytheon to create Raytheon Technologies Corp.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
LINE CORPORATION 1.83% 5570 End-of-day quote.4.11%
RAYTHEON 0.00%End-of-day quote.0.00%
RAYTHEON TECHNOLOGIES CORPORATION 0.29% 61.79 Delayed Quote.-30.25%
RISE, INC. 6.90% 31 End-of-day quote.3.33%
THE GLOBAL LTD. 0.97% 209 End-of-day quote.-55.63%
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Financials (USD)
Sales 2020 63 860 M - -
Net income 2020 3 108 M - -
Net Debt 2020 22 733 M - -
P/E ratio 2020 26,5x
Yield 2020 2,94%
Capitalization 93 202 M 93 202 M -
EV / Sales 2019
EV / Sales 2020 1,82x
Nbr of Employees 243 200
Free-Float 72,0%
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Technical analysis trends RAYTHEON TECHNOLOGIES CORP
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 77,29 $
Last Close Price 61,79 $
Spread / Highest target 63,5%
Spread / Average Target 25,1%
Spread / Lowest Target 0,34%
EPS Revisions
Managers
NameTitle
Gregory J. Hayes Chief Executive Officer & Director
Thomas A. Kennedy Executive Chairman
Paolo C. Dal Cin Head-Operations & Supply Chain
Anthony F. O'Brien Chief Financial Officer
Mark E. Russell Head-Technology & Global Engineering
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