Raytheon Technologies Corporation [RTX] Stock trading around $85.95 per share: What’s Next?

Raytheon Technologies Corporation [NYSE: RTX] gained 0.16% or 0.14 points to close at $85.95 with a heavy trading volume of 3743655 shares. The company report on July 17, 2021 that Raytheon Technologies Appoints Jeff Shockey as Senior Vice President of Global Government Relations.

Jeff Shockey will join Raytheon Technologies (NYSE: RTX) as senior vice president of Global Government Relations, succeeding Timothy McBride, who plans to leave the company later this year. Shockey will report to Chairman and Chief Executive Officer Gregory Hayes and serve as a member of the executive leadership team, working at the international, federal and state levels to oversee the company’s business interests with policymakers and other government organizations.

“Jeff is a proven leader who brings expertise in defense, intelligence and tax policy to the team,” said Hayes. “With a career in government and the private sector, Jeff will leverage his commercial and defense and industry relationships to drive government relations as a key enabler of our business.”.

It opened the trading session at $85.73, the shares rose to $86.20 and dropped to $85.42, the range by which the price of stock traded the whole day. The daily chart for RTX points out that the company has recorded 29.68% gains over the past six months. However, it is still -65.54% lower than its most recent low trading price.

If we look at the average trading volume of 5.89M shares, RTX reached to a volume of 3743655 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 $98.18 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 1.71, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.15. The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 5.66.

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 6.05. With this latest performance, RTX shares dropped by -1.04% in over the last four-week period, additionally plugging by 29.68% over the last 6 months – not to mention a rise of 38.47% 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 51.25, with the RSI for the last a single of trading hit 53.14, and the three-weeks RSI is set at 51.16 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 86.63, while it was recorded at 85.79 for the last single week of trading, and 75.59 for the last 200 days.

Raytheon Technologies Corporation [RTX]: A deeper dive into fundamental analysis

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.

Raytheon Technologies Corporation [RTX]: An earnings per share (EPS) analysis

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 23.36%.

An analysis of insider ownership at Raytheon Technologies Corporation [RTX]

There are presently around $103,051 million, or 79.90% 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 $10.93 billion in RTX stocks shares; and BLACKROCK INC., currently with $8.73 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 July and at the time of the July reporting period, where 1,034 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 89,924,579 shares. Additionally, 965 investors decreased positions by around 75,540,807 shares, while 244 investors held positions by with 1,033,498,851 shares. The mentioned changes placed institutional holdings at 1,198,964,237 shares, according to the latest SEC report filing. RTX stock had 161 new institutional investments in for a total of 8,625,113 shares, while 131 institutional investors sold positions of 11,309,100 shares during the same period.

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