Wednesday, March 3, 2021

RBC Capital Mkts slashes price target on Raytheon Technologies Corporation [RTX] – find out why.

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Raytheon Technologies Corporation [NYSE: RTX] closed the trading session at $74.16 on 06/08/20. The day’s price range saw the stock hit a low of $72.50, while the highest price level was $74.93. The stocks have a year to date performance of -16.04 percent and weekly performance of 15.66 percent. The stock has been moved at -13.44 percent over the last six months. The stock has performed 30.08 percent around the most recent 30 days and changed 8.99 percent over the most recent 3-months.

If compared to the average trading volume of 16.78M shares, RTX reached to a volume of 11726393 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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Here’s what leading stock market gurus have to say about Raytheon Technologies Corporation [RTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RTX shares is $74.59 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RTX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 21, 2020. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on April 15, 2020, representing the official price target for Raytheon Technologies Corporation stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 3.01, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 1.37. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 5.63. Price to Free Cash Flow for RTX in the course of the last twelve months was 32.00 with Quick ratio for the last quarter at 0.90.

RTX stock trade performance evaluation

Raytheon Technologies Corporation [RTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.66. With this latest performance, RTX shares gained by 30.08% in over the last four-week period, additionally sinking by -13.44% over the last 6 months – not to mention a drop of -4.85% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RTX stock in for the last two-week period is set at 71.62, with the RSI for the last a single of trading hit 78.78, and the three-weeks RSI is set at 64.41 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 61.19, while it was recorded at 68.92 for the last single week of trading, and 76.87 for the last 200 days.

Raytheon Technologies Corporation [RTX]: An insightful look at the core fundamentals

Raytheon Technologies Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for Raytheon Technologies Corporation [RTX] stock

With the latest financial reports released by the company, Raytheon Technologies Corporation posted 2.2/share EPS, while the average EPS was predicted by analysts to be reported at 2.05/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Raytheon Technologies Corporation go to -13.65%.

Raytheon Technologies Corporation [RTX]: Insider Ownership positions

There are presently around $88,901 million, or 46.80% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: VANGUARD GROUP INC with ownership of 128,319,751, which is approximately 2.645% of the company’s market cap and around 0.10% of the total institutional ownership; STATE STREET CORP, holding 117,826,757 shares of the stock with an approximate value of $8.49 billion in RTX stocks shares; and BLACKROCK INC., currently with $7.64 billion in RTX stock with ownership of nearly -0.092% of the company’s market capitalization.

925 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 163,391,744 shares. Additionally, 1,412 investors decreased positions by around 145,803,737 shares, while 177 investors held positions by with 924,342,124 shares. The mentioned changes placed institutional holdings at 1,233,537,605 shares, according to the latest SEC report filing. RTX stock had 117 new institutional investments in for a total of 30,362,292 shares, while 383 institutional investors sold positions of 41,554,622 shares during the same period.

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