Saturday, February 27, 2021

Argus lifts Raytheon Technologies Corporation [RTX] price estimate. Who else is bullish?

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Raytheon Technologies Corporation [NYSE: RTX] loss -1.54% on the last trading session, reaching $63.30 price per share at the time. The company report on August 3, 2020 that Raytheon Missiles & Defense, RAFAEL team to establish U.S.-based Iron Dome Weapon System production facility.

Raytheon Missiles & Defense, a Raytheon Technologies (RTX: NYSE) business, and RAFAEL Advanced Defense Systems Ltd., an Israeli-based defense technology company, have signed a joint venture to establish an Iron Dome Weapon System production facility in the United States. The new partnership, called Raytheon RAFAEL Area Protection Systems, anticipates finalizing a site location before the end of the year.


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“This will be the first Iron Dome all-up-round facility outside of Israel, and it will help the U.S. Department of Defense and allies across the globe obtain the system for defense of their service members and critical infrastructure,” said Raytheon Missiles & Defense Systems’ Sam Deneke, vice president of Land Warfare & Air Defense business execution.

Raytheon Technologies Corporation represents 1.50 billion in outstanding shares, while the company has a total market value of $94.55 billion with the latest information. RTX stock price has been found in the range of $62.65 to $64.0377.

If compared to the average trading volume of 10.71M shares, RTX reached a trading volume of 9442158 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $76.76 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 2.10. 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.

Argus have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 29, 2020. The new note on the price target was released on July 10, 2020, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $69, while RBC Capital Mkts analysts kept a Outperform rating on RTX stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 1.87, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 1.47. The Price to Book ratio for the last quarter was 1.41, with the Price to Cash per share for the same quarter was set at 4.67. Price to Free Cash Flow for RTX in the course of the last twelve months was 91.71 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for RTX stock

Raytheon Technologies Corporation [RTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.73. With this latest performance, RTX shares gained by 0.57% in over the last four-week period, additionally sinking by -29.88% over the last 6 months – not to mention a drop of -13.66% 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 54.50, with the RSI for the last a single of trading hit 60.64, and the three-weeks RSI is set at 53.47 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 62.89, while it was recorded at 63.46 for the last single week of trading, and 72.86 for the last 200 days.

Raytheon Technologies Corporation [RTX]: A deeper dive into fundamental analysis

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.

Raytheon Technologies Corporation [RTX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Raytheon Technologies Corporation posted 2.21/share EPS, while the average EPS was predicted by analysts to be reported at 2.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.90%. 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 -13.25%.

An analysis of insider ownership at Raytheon Technologies Corporation [RTX]

There are presently around $75,576 million, or 49.60% 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 $7.46 billion in RTX stocks shares; and BLACKROCK INC., currently with $6.71 billion in RTX stock with ownership of nearly -0.092% of the company’s market capitalization.

1,156 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 168,906,026 shares. Additionally, 1,104 investors decreased positions by around 170,656,426 shares, while 98 investors held positions by with 854,365,951 shares. The mentioned changes placed institutional holdings at 1,193,928,403 shares, according to the latest SEC report filing. RTX stock had 191 new institutional investments in for a total of 29,146,544 shares, while 369 institutional investors sold positions of 60,837,193 shares during the same period.

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