Raytheon Technologies Corporation [RTX] gain 11.26% so far this year. What now?

Raytheon Technologies Corporation [NYSE: RTX] jumped around 1.32 points on Wednesday, while shares priced at $79.56 at the close of the session, up 1.69%. The company report on March 15, 2021 that NAV CANADA awards Raytheon UK contract for secondary surveillance radars to manage Canadian airspace.

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Raytheon UK, a unit of Raytheon Technologies (NYSE: RTX), will deliver 12 Condor Mk3 next-generation Monopulse Secondary Surveillance Radar systems to NAV CANADA with an option to purchase additional radar systems as part of a 15-year contract. The first radar system will be shipped in March 2021 and installed by NAV CANADA in April.

“We have been supplying radar systems to NAV CANADA since 1959, and MSSRs since the 1980s,” said John Gallagher, managing director, Weapons & Sensors, Raytheon UK. “The more advanced Condor Mk3 was designed and developed by Raytheon UK engineers in Harlow, Essex, England, and will be manufactured at our facility in Glenrothes, Scotland, helping to sustain 70 jobs in Harlow and 20 jobs in Glenrothes over the next 15 years.”.

Raytheon Technologies Corporation stock is now 11.26% up from its year-to-date (YTD) trading value. RTX Stock saw the intraday high of $79.84 and lowest of $78.31 per share. The company’s 52-week high price is 80.06, which means current price is +22.36% above from all time high which was touched on 03/15/21.

Compared to the average trading volume of 7.23M shares, RTX reached a trading volume of 6591491 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $84.53 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 1.98, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.10. The Price to Book ratio for the last quarter was 1.65, with the Price to Cash per share for the same quarter was set at 5.90.

How has RTX stock performed recently?

Raytheon Technologies Corporation [RTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.92. With this latest performance, RTX shares gained by 9.57% in over the last four-week period, additionally plugging by 29.49% over the last 6 months – not to mention a rise of 45.29% 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 65.36, with the RSI for the last a single of trading hit 68.10, and the three-weeks RSI is set at 63.22 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 72.22, while it was recorded at 78.59 for the last single week of trading, and 65.82 for the last 200 days.

Raytheon Technologies Corporation [RTX]: Deeper insight into the 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 analysis for Raytheon Technologies Corporation [RTX]

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%.

Insider trade positions for Raytheon Technologies Corporation [RTX]

There are presently around $94,309 million, or 78.90% 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 $9.58 billion in RTX stocks shares; and BLACKROCK INC., currently with $7.83 billion in RTX stock with ownership of nearly -0.497% of the company’s market capitalization.

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1,006 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 90,450,198 shares. Additionally, 998 investors decreased positions by around 73,593,577 shares, while 188 investors held positions by with 1,021,332,934 shares. The mentioned changes placed institutional holdings at 1,185,376,709 shares, according to the latest SEC report filing. RTX stock had 281 new institutional investments in for a total of 13,119,501 shares, while 115 institutional investors sold positions of 18,110,520 shares during the same period.

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