Wednesday, September 23, 2020

Raytheon Technologies Corporation [RTX] Stock trading around $60.65 per share: What’s Next?

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Raytheon Technologies Corporation [NYSE: RTX] stock went on an upward path that rose over 1.90% on Friday, amounting to a one-week price decrease of less than -0.35%. The company report on September 8, 2020 that Raytheon Technologies President and CEO to present at the Morgan Stanley Virtual 8th Annual Laguna Conference.

Raytheon Technologies (NYSE: RTX) President and Chief Executive Officer Greg Hayes will speak at the Morgan Stanley Virtual 8th Annual Laguna Conference on Wednesday, Sept. 16 at 9:45 a.m. Eastern Time. The presentation will be broadcast live at www.rtx.com and will be archived on the website afterward.

About Raytheon Technologies.

Over the last 12 months, RTX stock dropped by -25.19%. The one-year Raytheon Technologies Corporation stock forecast points to a potential upside of 22.12. The average equity rating for RTX stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $90.93 billion, with 1.50 billion shares outstanding and 1.37 billion shares in the current float. Compared to the average trading volume of 9.13M shares, RTX stock reached a trading volume of 9778361 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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.

Morgan Stanley have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 08, 2020. The new note on the price target was released on July 29, 2020, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $77, while Vertical Research analysts kept a Buy rating on RTX stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 1.81, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 1.41. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 4.65. Price to Free Cash Flow for RTX in the course of the last twelve months was 88.19 with Quick ratio for the last quarter at 0.90.

RTX Stock Performance Analysis:

Raytheon Technologies Corporation [RTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.35. With this latest performance, RTX shares dropped by -5.66% in over the last four-week period, additionally sinking by -2.44% over the last 6 months – not to mention a drop of -25.19% 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 47.26, with the RSI for the last a single of trading hit 49.05, and the three-weeks RSI is set at 48.38 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 61.12, while it was recorded at 60.03 for the last single week of trading, and 70.28 for the last 200 days.

Insight into Raytheon Technologies Corporation 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.

RTX Stock EPS

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%.

Raytheon Technologies Corporation [RTX] Insider Position Details

There are presently around $71,336 million, or 76.50% 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 $7.71 billion in RTX stocks shares; and BLACKROCK INC., currently with $5.99 billion in RTX stock with ownership of nearly -6.795% of the company’s market capitalization.

1,190 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 160,050,008 shares. Additionally, 1,061 investors decreased positions by around 215,667,961 shares, while 79 investors held positions by with 800,479,856 shares. The mentioned changes placed institutional holdings at 1,176,197,825 shares, according to the latest SEC report filing. RTX stock had 208 new institutional investments in for a total of 30,020,140 shares, while 363 institutional investors sold positions of 62,167,531 shares during the same period.

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