Raytheon Technologies Corporation [NYSE: RTX] loss -0.30% on the last trading session, reaching $60.77 price per share at the time. The company report on August 24, 2020 that Salesforce.com, Amgen and Honeywell International Set to Join Dow Jones Industrial Average.
S&P Dow Jones Indices will make the following changes to the Dow Jones Industrial Average (DJIA) effective prior to the opening of trading on Monday, August 31:.
Salesforce.com (NYSE:CRM) will replace Exxon Mobil Corp. (NYSE:XOM), Amgen Inc. (NASD:AMGN) will replace Pfizer Inc. (NYSE:PFE), and Honeywell International Inc. (NYSE:HON) will replace Raytheon Technologies Corp. (NYSE:RTX).
Raytheon Technologies Corporation represents 1.50 billion in outstanding shares, while the company has a total market value of $93.94 billion with the latest information. RTX stock price has been found in the range of $59.985 to $60.9238.
If compared to the average trading volume of 9.74M shares, RTX reached a trading volume of 8638502 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 $77.88 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 1.63, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 1.46. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 4.51. Price to Free Cash Flow for RTX in the course of the last twelve months was 91.12 with Quick ratio for the last quarter at 0.90.
Trading performance analysis for RTX stock
Raytheon Technologies Corporation [RTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.41. With this latest performance, RTX shares dropped by -0.38% in over the last four-week period, additionally sinking by -22.05% over the last 6 months – not to mention a drop of -17.29% 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 46.77, with the RSI for the last a single of trading hit 44.52, and the three-weeks RSI is set at 47.61 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 61.67, while it was recorded at 60.97 for the last single week of trading, and 71.75 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 $71,352 million, or 76.40% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: VANGUARD GROUP INC with ownership of 128,685,385, which is approximately 0.285% of the company’s market cap and around 0.10% of the total institutional ownership; STATE STREET CORP, holding 127,179,629 shares of the stock with an approximate value of $7.73 billion in RTX stocks shares; and BLACKROCK INC., currently with $6.0 billion in RTX stock with ownership of nearly -6.795% of the company’s market capitalization.
1,187 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 160,094,733 shares. Additionally, 1,057 investors decreased positions by around 217,538,267 shares, while 79 investors held positions by with 796,502,659 shares. The mentioned changes placed institutional holdings at 1,174,135,659 shares, according to the latest SEC report filing. RTX stock had 207 new institutional investments in for a total of 30,077,410 shares, while 364 institutional investors sold positions of 64,381,257 shares during the same period.