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

Raytheon Technologies Corporation [NYSE: RTX] closed the trading session at $54.32 on 10/30/20. The day’s price range saw the stock hit a low of $52.92, while the highest price level was $54.45. The company report on October 31, 2020 that Rosen, A Top Ranked Law Firm, Files First Securities Class Action Lawsuit Against Raytheon Technologies Corporation f/k/a Raytheon Company; Encourages Investors with Losses in Excess of $100K to Contact Firm – RTX, RTN.

New York, New York–(Newsfile Corp. – October 31, 2020) – Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Raytheon Technologies Corporation f/k/a Raytheon Company (NYSE: RTX) (NYSE: RTN) between February 10, 2016 and October 27, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Raytheon investors under the federal securities laws.

To join the Raytheon class action, go to http://www.rosenlegal.com/cases-register-1975.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

The stocks have a year to date performance of -38.50 percent and weekly performance of -13.19 percent. The stock has been moved at -7.70 percent over the last six months. The stock has performed -5.46 percent around the most recent 30 days and changed -5.55 percent over the most recent 3-months.

If compared to the average trading volume of 8.33M shares, RTX reached to a volume of 14455147 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $74.33 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 2.00, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 4.69. Price to Free Cash Flow for RTX in the course of the last twelve months was 24.52 with Quick ratio for the last quarter at 0.90.

RTX stock trade performance evaluation

Raytheon Technologies Corporation [RTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.19. With this latest performance, RTX shares dropped by -5.46% in over the last four-week period, additionally sinking by -7.70% over the last 6 months – not to mention a drop of -35.86% 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 36.46, with the RSI for the last a single of trading hit 33.83, and the three-weeks RSI is set at 39.15 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 59.86, while it was recorded at 55.43 for the last single week of trading, and 65.25 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 1.94/share EPS, while the average EPS was predicted by analysts to be reported at 1.84/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.40%. 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.

Raytheon Technologies Corporation [RTX]: Insider Ownership positions

There are presently around $63,040 million, or 77.00% 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 $6.91 billion in RTX stocks shares; and BLACKROCK INC., currently with $5.37 billion in RTX stock with ownership of nearly -6.795% of the company’s market capitalization.

1,072 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 143,301,843 shares. Additionally, 1,053 investors decreased positions by around 209,502,658 shares, while 116 investors held positions by with 807,720,680 shares. The mentioned changes placed institutional holdings at 1,160,525,181 shares, according to the latest SEC report filing. RTX stock had 187 new institutional investments in for a total of 23,708,751 shares, while 302 institutional investors sold positions of 56,148,908 shares during the same period.

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