In the latest trading session, Raytheon Technologies (RTX) closed at $92.33, marking a +0.84% move from the previous day. This change outpaced the S&P 500's 0.08% gain on the day. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.42%.Heading into today, shares of the an aerospace and defense company had gained 10.71% over the past month, outpacing the Aerospace sector's gain of 5.74% and the S&P 500's gain of 0.22% in that time.Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. This is expected to be January 25, 2022. In that report, analysts expect Raytheon Technologies to post earnings of $1.01 per share. This would mark year-over-year growth of 36.49%. Our most recent consensus estimate is calling for quarterly revenue of $17.22 billion, up 4.85% from the year-ago period.Investors should also note any recent changes to analyst estimates for Raytheon Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.67% lower. Raytheon Technologies is currently sporting a Zacks Rank of #4 (Sell).Investors should also note Raytheon Technologies's current valuation metrics, including its Forward P/E ratio of 18.59. This valuation marks a discount compared to its industry's average Forward P/E of 23.25.We can also see that RTX currently has a PEG ratio of 1.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 3.31 as of yesterday's close.The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 6% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Raytheon Technologies Corporation (RTX): Free Stock Analysis Report To read this article on Zacks.com click here.