Raytheon Technologies Corporation [RTX] Is Currently 1.05 below its 200 Period Moving Avg: What Does This Mean?


Raytheon Technologies Corporation [NYSE: RTX] gained 1.05% or 0.96 points to close at $92.28 with a heavy trading volume of 4125663 shares. The company report on June 7, 2022 that Raytheon Technologies Establishes Global Headquarters Office in Northern Virginia.

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Raytheon Technologies (NYSE: RTX) announced today that it will establish its global headquarters in Arlington, Virginia. The location increases agility in supporting U.S. government and commercial aerospace customers and serves to reinforce partnerships that will progress innovative technologies to advance the industry. Washington, D.C. serves as a convenient travel hub for the company’s global customers and employees.

The company will maintain its strong U.S. presence which includes 600 facilities across 44 states and territories. Each of the company’s four business units currently have operations in Virginia. The new global headquarters office will be in Arlington’s Rosslyn neighborhood alongside the Raytheon Intelligence and Space business.

It opened the trading session at $92.10, the shares rose to $93.19 and dropped to $90.80, the range by which the price of stock traded the whole day. The daily chart for RTX points out that the company has recorded 10.51% gains over the past six months. However, it is still -16.81% lower than its most recent low trading price.

If we look at the average trading volume of 5.37M shares, RTX reached to a volume of 4125663 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 $115.44 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 2.43, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 1.89, with the Price to Cash per share for the same quarter was set at 3.98. Price to Free Cash Flow for RTX in the course of the last twelve months was 85.03 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 -7.00. With this latest performance, RTX shares dropped by -0.22% in over the last four-week period, additionally plugging by 10.51% over the last 6 months – not to mention a rise of 4.35% 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 42.37, with the RSI for the last a single of trading hit 39.46, and the three-weeks RSI is set at 43.87 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 96.66, while it was recorded at 93.68 for the last single week of trading, and 91.73 for the last 200 days.

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

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 $109,058 million, or 80.80% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: STATE STREET CORP with ownership of 131,752,873, which is approximately -3.223% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 120,699,958 shares of the stock with an approximate value of $11.02 billion in RTX stocks shares; and BLACKROCK INC., currently with $8.99 billion in RTX stock with ownership of nearly -0.165% 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 1,159 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 53,760,323 shares. Additionally, 976 investors decreased positions by around 48,702,960 shares, while 300 investors held positions by with 1,091,781,718 shares. The mentioned changes placed institutional holdings at 1,194,245,001 shares, according to the latest SEC report filing. RTX stock had 231 new institutional investments in for a total of 7,310,247 shares, while 116 institutional investors sold positions of 4,387,765 shares during the same period.