Raytheon Technologies Corporation [RTX] moved down -0.07: Why It’s Important

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Raytheon Technologies Corporation [NYSE: RTX] loss -0.07% on the last trading session, reaching $91.69 price per share at the time. The company report on May 2, 2022 that Qantas Airways Confirms Selection of Pratt & Whitney GTF™ Engines to Power Airbus A220 and A320neo Family Aircraft.

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Pratt & Whitney, a Raytheon Technologies Corp. (NYSE: RTX) business, today announced that Qantas Airways (“Qantas”) has confirmed selection for Pratt & Whitney GTF™ engines to power 40 Airbus A220 and A320neo family aircraft, including A321XLR, which the airline will operate on domestic and short-haul international routes. Leaders from Airbus, Qantas and Pratt & Whitney gathered in Sydney, Australia, to celebrate the milestone with A220 aircraft demonstration flights and static display for media, stakeholders and employees. Pratt & Whitney will also provide Qantas with engine maintenance through a long-term EngineWise® Comprehensive service agreement. Aircraft deliveries are expected to begin in the second half of 2023.

Headquartered in Sydney, Australia, Qantas is the flag carrier of Australia. The airline’s history with Pratt & Whitney goes back more than 70 years to Wasp-powered Douglas DC-3 and DC-4 aircraft, followed by JT3D-powered Boeing 707 aircraft when the airline entered the jet age. Qantas Group currently operates several aircraft types with Pratt & Whitney engines, including more than 100 Airbus A320ceo family aircraft with V2500 engines at Jetstar, De Havilland Canada Dash 8 aircraft with PW100 and PW150 engines at QantasLink, and the world’s first Airbus A321P2F at Qantas Freight, a passenger-to-freighter conversion powered by V2500 engines.

Raytheon Technologies Corporation represents 1.49 billion in outstanding shares, while the company has a total market value of $137.82 billion with the latest information. RTX stock price has been found in the range of $91.36 to $93.86.

If compared to the average trading volume of 6.41M shares, RTX reached a trading volume of 7504788 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 $115.24 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 2.63, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 1.88, with the Price to Cash per share for the same quarter was set at 4.02. Price to Free Cash Flow for RTX in the course of the last twelve months was 83.73 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for RTX stock

Raytheon Technologies Corporation [RTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.89. With this latest performance, RTX shares dropped by -8.68% in over the last four-week period, additionally plugging by 1.08% over the last 6 months – not to mention a rise of 8.73% 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 31.36, with the RSI for the last a single of trading hit 25.86, and the three-weeks RSI is set at 36.36 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 99.29, while it was recorded at 94.56 for the last single week of trading, and 90.77 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 $108,893 million, or 80.50% 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 $10.87 billion in RTX stocks shares; and BLACKROCK INC., currently with $9.04 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 1,152 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 46,666,183 shares. Additionally, 939 investors decreased positions by around 55,198,262 shares, while 294 investors held positions by with 1,084,979,401 shares. The mentioned changes placed institutional holdings at 1,186,843,846 shares, according to the latest SEC report filing. RTX stock had 251 new institutional investments in for a total of 7,655,696 shares, while 103 institutional investors sold positions of 5,373,981 shares during the same period.