Raytheon Technologies Corporation [RTX] Is Currently 0.57 below its 200 Period Moving Avg: What Dose This Mean?

Raytheon Technologies Corporation [NYSE: RTX] stock went on an upward path that rose over 0.57% on Monday, amounting to a one-week price increase of more than 3.07%. The company report on April 26, 2021 that Raytheon Technologies Announces Chairman Transition.

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Raytheon Technologies (NYSE: RTX) announced Thomas A. Kennedy, executive chairman of the Board of Directors, will retire effective June 1, 2021, following the one-year anniversary of the merger of United Technologies Corporation and Raytheon Company. Dr. Kennedy has held various leadership positions since joining Raytheon in 1983 and served on its board for six years. Chief Executive Officer Greg Hayes has been appointed by the Board of Directors to chairman of the board in addition to his current role as CEO of Raytheon Technologies.

Kennedy commented, “It has been an amazing journey over my years leading Raytheon and in this last transformative year in my role as executive chairman of Raytheon Technologies. We successfully executed our historic merger and the integration is well underway. It has been my honor to lead this organization and our exemplary employees around the world. I have enjoyed the partnership with Greg and his talented management team, and I’m confident the company will continue to deliver on redefining the future of aerospace and defense.”.

Over the last 12 months, RTX stock rose by 27.70%. The one-year Raytheon Technologies Corporation stock forecast points to a potential upside of 8.76. The average equity rating for RTX stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $120.05 billion, with 1.50 billion shares outstanding and 1.39 billion shares in the current float. Compared to the average trading volume of 7.36M shares, RTX stock reached a trading volume of 12081714 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 $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 1.64, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.12. The Price to Book ratio for the last quarter was 1.68, with the Price to Cash per share for the same quarter was set at 5.94.

RTX Stock Performance Analysis:

Raytheon Technologies Corporation [RTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.07. With this latest performance, RTX shares gained by 4.48% in over the last four-week period, additionally plugging by 28.98% over the last 6 months – not to mention a rise of 27.70% 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 65.31, with the RSI for the last a single of trading hit 70.25, and the three-weeks RSI is set at 62.45 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 76.66, while it was recorded at 79.25 for the last single week of trading, and 67.60 for the last 200 days.

Insight into Raytheon Technologies Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Raytheon Technologies Corporation [RTX] shares currently have an operating margin of +2.47 and a Gross Margin at +15.90. Raytheon Technologies Corporation’s Net Margin is presently recorded at -5.49.

Return on Total Capital for RTX is now 1.41, given the latest momentum, and Return on Invested Capital for the company is -3.34. Return on Equity for this stock declined to -5.46, with Return on Assets sitting at -2.06. When it comes to the capital structure of this company, Raytheon Technologies Corporation [RTX] has a Total Debt to Total Equity ratio set at 46.87. Additionally, RTX Total Debt to Total Capital is recorded at 31.91, with Total Debt to Total Assets ending up at 20.86. Long-Term Debt to Equity for the company is recorded at 45.10, with the Long-Term Debt to Total Capital now at 30.70.

Reflecting on the efficiency of the workforce at the company, Raytheon Technologies Corporation [RTX] managed to generate an average of -$17,177 per employee. Receivables Turnover for the company is 3.07 with a Total Asset Turnover recorded at a value of 0.38.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 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 Position Details

There are presently around $96,184 million, or 79.30% 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 $9.75 billion in RTX stocks shares; and BLACKROCK INC., currently with $7.97 billion in RTX stock with ownership of nearly -0.497% of the company’s market capitalization.

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Positions in Raytheon Technologies Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,027 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 90,325,628 shares. Additionally, 970 investors decreased positions by around 71,685,731 shares, while 195 investors held positions by with 1,025,446,844 shares. The mentioned changes placed institutional holdings at 1,187,458,203 shares, according to the latest SEC report filing. RTX stock had 255 new institutional investments in for a total of 12,373,917 shares, while 108 institutional investors sold positions of 17,448,779 shares during the same period.

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