Raytheon Technologies Corporation [RTX] is 10.45% higher this YTD. Is it still time to buy?

Raytheon Technologies Corporation [NYSE: RTX] traded at a low on 08/16/22, posting a -1.12 loss after which it closed the day’ session at $95.05. The company report on July 27, 2022 that Raytheon Technologies venture capital group invests in VerdeGo Aero.

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Investment in hybrid-electric propulsion innovator to accelerate transformational technologies for advanced air mobility applications.

Raytheon Technologies’ (NYSE: RTX) corporate venture capital group, RTX Ventures, today signed an agreement to invest in VerdeGo Aero to accelerate the development of hybrid-electric propulsion technologies for advanced air mobility applications. This investment will also provide opportunities for VerdeGo Aero to collaborate with Pratt & Whitney on future product development.

The results of the trading session contributed to over 5842440 shares changing hands. Over the past one week, the price volatility of Raytheon Technologies Corporation stands at 1.71% while the volatility over the past one month is 2.18%.

The market cap for RTX stock reached $137.60 billion, with 1.48 billion shares outstanding and 1.47 billion shares in the current float. Compared to the average trading volume of 4.53M shares, RTX reached a trading volume of 5842440 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $110.53 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.

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 1.99, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.11. 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 3.29. Price to Free Cash Flow for RTX in the course of the last twelve months was 93.99 with Quick ratio for the last quarter at 0.80.

How has RTX stock performed recently?

Raytheon Technologies Corporation [RTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.38. With this latest performance, RTX shares gained by 5.85% in over the last four-week period, additionally plugging by 1.58% over the last 6 months – not to mention a rise of 9.08% 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 54.91, with the RSI for the last a single of trading hit 57.67, and the three-weeks RSI is set at 53.06 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 93.60, while it was recorded at 94.55 for the last single week of trading, and 93.00 for the last 200 days.

Raytheon Technologies Corporation [RTX]: Deeper insight into the 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 0.80 and a Current Ratio set at 1.10.

Earnings analysis for Raytheon Technologies Corporation [RTX]

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 13.50%.

Insider trade positions for Raytheon Technologies Corporation [RTX]

There are presently around $113,697 million, or 81.70% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: STATE STREET CORP with ownership of 129,549,992, which is approximately -1.672% of the company’s market cap and around 0.11% of the total institutional ownership; VANGUARD GROUP INC, holding 122,413,937 shares of the stock with an approximate value of $11.64 billion in RTX stocks shares; and BLACKROCK INC., currently with $9.39 billion in RTX stock with ownership of nearly 0.402% of the company’s market capitalization.

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 1,153 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 47,168,660 shares. Additionally, 976 investors decreased positions by around 44,902,679 shares, while 311 investors held positions by with 1,104,111,586 shares. The mentioned changes placed institutional holdings at 1,196,182,925 shares, according to the latest SEC report filing. RTX stock had 147 new institutional investments in for a total of 8,887,647 shares, while 116 institutional investors sold positions of 11,910,379 shares during the same period.


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