Wolfe Research lifts Raytheon Technologies Corporation [RTX] price estimate. Who else is bullish?

Raytheon Technologies Corporation [NYSE: RTX] plunged by -$1.5 during the normal trading session on Tuesday and reaching a high of $77.91 during the day while it closed the day at $77.09. The company report on April 20, 2021 that Raytheon Technologies Appoints Bernard A. Harris Jr. to Board of Directors.

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Raytheon Technologies (NYSE: RTX) announced that its board of directors has elected Dr. Bernard A. Harris Jr. as a director. A distinguished former NASA astronaut who is currently the chief executive officer of Vesalius Ventures, a venture capital firm, Harris is an experienced business leader with significant accomplishments in space exploration and advancement of emerging technologies.

“We are honored to have Dr. Harris join our board,” said Raytheon Technologies chief executive officer Greg Hayes. “His groundbreaking work in space and his impressive leadership across business, education and healthcare are remarkable. We expect our management team, employees and shareowners will benefit from his extensive experience and from the leadership he demonstrates in community development.”.

Raytheon Technologies Corporation stock has also loss -0.79% of its value over the past 7 days. However, RTX stock has inclined by 11.14% in the 3 months of the year. Over the past six months meanwhile, it has gained 24.84% and gained 7.80% year-on date.

The market cap for RTX stock reached $116.50 billion, with 1.50 billion shares outstanding and 1.39 billion shares in the current float. Compared to the average trading volume of 7.29M shares, RTX reached a trading volume of 8659550 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 $88.78 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.

Wolfe Research have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 09, 2021. The new note on the price target was released on December 17, 2020, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $79, while JP Morgan analysts kept a Overweight rating on RTX stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 1.55, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 5.82.

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 -0.79. With this latest performance, RTX shares dropped by -1.62% in over the last four-week period, additionally plugging by 24.84% over the last 6 months – not to mention a rise of 18.64% 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 49.08, with the RSI for the last a single of trading hit 43.72, and the three-weeks RSI is set at 51.83 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 76.08, while it was recorded at 77.97 for the last single week of trading, and 67.22 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 1.02/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 24.00%.

Raytheon Technologies Corporation [RTX]: Insider Ownership positions

There are presently around $93,131 million, or 79.20% 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 $9.46 billion in RTX stocks shares; and BLACKROCK INC., currently with $7.74 billion in RTX stock with ownership of nearly -0.497% of the company’s market capitalization.

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1,028 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 87,890,373 shares. Additionally, 975 investors decreased positions by around 72,899,036 shares, while 190 investors held positions by with 1,024,230,493 shares. The mentioned changes placed institutional holdings at 1,185,019,902 shares, according to the latest SEC report filing. RTX stock had 266 new institutional investments in for a total of 10,539,557 shares, while 110 institutional investors sold positions of 18,037,397 shares during the same period.

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