Raytheon Technologies Corporation [NYSE: RTX] gained 3.29% or 2.37 points to close at $74.36 with a heavy trading volume of 10875983 shares. The company report on February 24, 2021 that Blue Canyon Technologies to Develop Six Additional DARPA Blackjack Satellites.
Leading small satellite manufacturer and mission services provider Blue Canyon Technologies LLC (“BCT” or “Blue Canyon”), a wholly-owned subsidiary of Raytheon Technologies (NYSE: RTX), announced it will develop an additional six satellites for the Defense Advanced Research Projects Agency’s Blackjack program under a Phase 3 contract.
“We’re demonstrating an economy of scale previously unheard of for national security space assets, and we’re proving it can be done on a rapid schedule,” said George Stafford, co-founder and CEO of Blue Canyon Technologies. “Blackjack will deliver persistent coverage in low Earth orbit that’s resilient by numbers.”.
It opened the trading session at $73.51, the shares rose to $75.34 and dropped to $73.10, the range by which the price of stock traded the whole day. The daily chart for RTX points out that the company has recorded 22.10% gains over the past six months. However, it is still -82.66% lower than its most recent low trading price.
If we look at the average trading volume of 7.21M shares, RTX reached to a volume of 10875983 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 $84.00 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.
DZ Bank have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 17, 2020. The new note on the price target was released on November 10, 2020, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $89, while Morgan Stanley analysts kept a Overweight rating on RTX stock.
The Average True Range (ATR) for Raytheon Technologies Corporation is set at 2.24, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.03. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 5.69.
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 1.86. With this latest performance, RTX shares gained by 9.08% in over the last four-week period, additionally plugging by 22.10% over the last 6 months – not to mention a drop of -3.46% 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 56.22, with the RSI for the last a single of trading hit 55.83, and the three-weeks RSI is set at 56.06 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 70.71, while it was recorded at 74.27 for the last single week of trading, and 64.86 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 1.02/share EPS, while the average EPS was predicted by analysts to be reported at 1.22/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -16.40%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Raytheon Technologies Corporation go to 23.66%.
An analysis of insider ownership at Raytheon Technologies Corporation [RTX]
There are presently around $86,981 million, or 78.30% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: VANGUARD GROUP INC with ownership of 127,888,312, which is approximately -1.136% of the company’s market cap and around 0.10% of the total institutional ownership; STATE STREET CORP, holding 120,401,724 shares of the stock with an approximate value of $8.95 billion in RTX stocks shares; and BLACKROCK INC., currently with $7.32 billion in RTX stock with ownership of nearly -0.497% of the company’s market capitalization.
994 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 90,096,196 shares. Additionally, 1,003 investors decreased positions by around 74,008,727 shares, while 186 investors held positions by with 1,005,628,634 shares. The mentioned changes placed institutional holdings at 1,169,733,557 shares, according to the latest SEC report filing. RTX stock had 273 new institutional investments in for a total of 13,190,479 shares, while 118 institutional investors sold positions of 18,138,677 shares during the same period.