Raytheon Technologies Corporation [RTX] Is Currently 2.48 below its 200 Period Moving Avg: What Does This Mean?


Raytheon Technologies Corporation [NYSE: RTX] gained 2.48% or 2.42 points to close at $99.94 with a heavy trading volume of 6625092 shares. The company report on March 16, 2022 that Raytheon Technologies Appoints Barbara Borgonovi as Senior Vice President, Corporate Strategy & Development.

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Barbara Borgonovi has been named Raytheon Technologies’ (NYSE: RTX) senior vice president of Corporate Strategy & Development, effective April 1, 2022.

Borgonovi will report to Chairman and Chief Executive Officer Gregory Hayes and serve as a member of the executive leadership team and will be responsible for developing corporate strategies that enhance profitability and performance, and for assessing merger and acquisition opportunities to drive overall company growth.

It opened the trading session at $97.84, the shares rose to $100.822 and dropped to $97.80, the range by which the price of stock traded the whole day. The daily chart for RTX points out that the company has recorded 19.76% gains over the past six months. However, it is still -33.91% lower than its most recent low trading price.

If we look at the average trading volume of 6.57M shares, RTX reached to a volume of 6625092 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 $108.47 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 1.90. 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 February 16, 2022. The new note on the price target was released on July 29, 2021, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $87, while Wells Fargo analysts kept a Equal Weight rating on RTX stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 2.69, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.32. The Price to Book ratio for the last quarter was 2.00, with the Price to Cash per share for the same quarter was set at 5.24. Price to Free Cash Flow for RTX in the course of the last twelve months was 75.40 with Quick ratio for the last quarter at 0.90.

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 2.99. With this latest performance, RTX shares gained by 5.91% in over the last four-week period, additionally plugging by 19.76% over the last 6 months – not to mention a rise of 29.93% 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 59.32, with the RSI for the last a single of trading hit 60.73, and the three-weeks RSI is set at 58.96 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 94.20, while it was recorded at 97.73 for the last single week of trading, and 88.46 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 +7.25 and a Gross Margin at +19.42. Raytheon Technologies Corporation’s Net Margin is presently recorded at +6.06.

Return on Equity for this stock inclined to 5.37, with Return on Assets sitting at 2.41.

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 16.20%.

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

There are presently around $116,144 million, or 80.40% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: STATE STREET CORP with ownership of 136,140,794, which is approximately -3.287% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 118,463,846 shares of the stock with an approximate value of $11.55 billion in RTX stocks shares; and BLACKROCK INC., currently with $9.61 billion in RTX stock with ownership of nearly -1.302% of the company’s market capitalization.

Positions in Raytheon Technologies Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 1,126 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 45,770,646 shares. Additionally, 897 investors decreased positions by around 55,153,822 shares, while 283 investors held positions by with 1,090,054,691 shares. The mentioned changes placed institutional holdings at 1,190,979,159 shares, according to the latest SEC report filing. RTX stock had 239 new institutional investments in for a total of 8,702,571 shares, while 100 institutional investors sold positions of 4,588,082 shares during the same period.