Wells Fargo slashes price target on Raytheon Technologies Corporation [RTX] – find out why.

Raytheon Technologies Corporation [NYSE: RTX] stock went on a downward path that fall over -1.37% on Tuesday, amounting to a one-week price increase of more than 1.25%. The company report on May 12, 2021 that Blue Canyon Technologies to Provide CubeSats for VISORS Space Program to Study the Sun.

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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 the company was selected to provide a pair of 6U CubeSat buses and an Engineering Development Unit for the Virtual Super-resolution Optics with Reconfigurable Swarms, or VISORS, program, a space mission sponsored by the National Science Foundation.

The objective of the VISORS program is to detect and study the fundamental energy-release regions in the sun’s corona.

Over the last 12 months, RTX stock rose by 47.46%. The one-year Raytheon Technologies Corporation stock forecast points to a potential upside of 8.94. 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 $126.20 billion, with 1.51 billion shares outstanding and 1.39 billion shares in the current float. Compared to the average trading volume of 7.05M shares, RTX stock reached a trading volume of 7347881 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 $93.76 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.

Wells Fargo have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on May 13, 2021. While these analysts kept the previous recommendation, Redburn raised their target price to Buy. The new note on the price target was released on May 10, 2021, representing the official price target for Raytheon Technologies Corporation stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 1.72, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.09. The Price to Book ratio for the last quarter was 1.80, with the Price to Cash per share for the same quarter was set at 5.80.

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 1.25. With this latest performance, RTX shares gained by 8.64% in over the last four-week period, additionally plugging by 29.07% over the last 6 months – not to mention a rise of 47.46% 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 61.94, with the RSI for the last a single of trading hit 60.31, and the three-weeks RSI is set at 62.15 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 79.92, while it was recorded at 84.78 for the last single week of trading, and 69.46 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 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 233.30%. 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 23.24%.

Raytheon Technologies Corporation [RTX] Insider Position Details

There are presently around $102,827 million, or 80.10% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: STATE STREET CORP with ownership of 141,299,933, which is approximately 17.357% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 127,184,940 shares of the stock with an approximate value of $10.86 billion in RTX stocks shares; and BLACKROCK INC., currently with $8.68 billion in RTX stock with ownership of nearly 3.226% 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 1,055 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 92,258,421 shares. Additionally, 956 investors decreased positions by around 72,457,483 shares, while 229 investors held positions by with 1,039,628,462 shares. The mentioned changes placed institutional holdings at 1,204,344,366 shares, according to the latest SEC report filing. RTX stock had 176 new institutional investments in for a total of 10,616,371 shares, while 118 institutional investors sold positions of 11,471,030 shares during the same period.

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