RBC Capital Mkts lifts Raytheon Technologies Corporation [RTX] price estimate. Who else is bullish?

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Raytheon Technologies Corporation [NYSE: RTX] price plunged by -0.42 percent to reach at -$0.42. The company report on April 26, 2022 that Air Canada Selects Pratt & Whitney GTF™ Engines to Power Up to 44 Airbus A320neo Family Aircraft.

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Pratt & Whitney, a division of Raytheon Technologies Corp. (NYSE: RTX) and Air Canada have announced the selection of Pratt & Whitney GTF™ engines to power 30 firm and 14 purchase right Airbus A321XLR aircraft. Pratt & Whitney will also provide Air Canada with engine maintenance through an EngineWise® Comprehensive service agreement. The first aircraft is expected to be delivered in the first quarter of 2024.

“The Pratt & Whitney GTF family of engines have saved operators more than 600 million gallons of fuel and helped avoid six million metric tons of carbon emissions since it entered service in 2016,” said Rick Deurloo, Chief Commercial Officer at Pratt & Whitney. “What’s good for the environment is also good for business, and marquee operators such as Air Canada will continue to serve their customers with the most efficient engines on offer today.”.

A sum of 7196043 shares traded at recent session while its average daily volume was at 6.48M shares. Raytheon Technologies Corporation shares reached a high of $100.95 and dropped to a low of $96.78 until finishing in the latest session at $99.19.

The one-year RTX stock forecast points to a potential upside of 11.35. The average equity rating for RTX stock is currently 1.90, trading closer to a bullish pattern in the stock market.

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 $111.89 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.

RBC Capital Mkts have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 08, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price from $110 to $111. The new note on the price target was released on February 16, 2022, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $100, while Argus analysts kept a Buy rating on RTX stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 2.33, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.40. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 5.03. Price to Free Cash Flow for RTX in the course of the last twelve months was 77.98 with Quick ratio for the last quarter at 0.90.

RTX Stock Performance Analysis:

Raytheon Technologies Corporation [RTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.13. With this latest performance, RTX shares dropped by -3.16% in over the last four-week period, additionally plugging by 8.64% over the last 6 months – not to mention a rise of 19.78% 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 43.95, with the RSI for the last a single of trading hit 36.18, and the three-weeks RSI is set at 48.35 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 99.22, while it was recorded at 101.20 for the last single week of trading, and 90.25 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 +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.

RTX Stock EPS

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%.

Raytheon Technologies Corporation [RTX] Insider Position Details

There are presently around $118,320 million, or 80.30% 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 $11.8 billion in RTX stocks shares; and BLACKROCK INC., currently with $9.82 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 April and at the time of the April reporting period, where 1,120 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 46,276,286 shares. Additionally, 927 investors decreased positions by around 52,526,108 shares, while 276 investors held positions by with 1,089,034,718 shares. The mentioned changes placed institutional holdings at 1,187,837,112 shares, according to the latest SEC report filing. RTX stock had 236 new institutional investments in for a total of 8,352,386 shares, while 103 institutional investors sold positions of 4,387,831 shares during the same period.