Raytheon Technologies Corporation [RTX] is -1.71% lower this YTD. Is it still time to buy?

Raytheon Technologies Corporation [NYSE: RTX] gained 0.51% or 0.43 points to close at $84.59 with a heavy trading volume of 4544291 shares. The company report on October 11, 2022 that Frontier Airlines Introduces First A321neo with GTF Engines.

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“Frederick the Bald Eagle” is the airline’s first A321neo, first GTF-powered aircraft, and first of three special liveries.

Pratt & Whitney, a Raytheon Technologies business (NYSE: RTX), and Frontier Airlines (“Frontier”) today welcomed the arrival of the carrier’s first Airbus A321neo aircraft, outfitted with Pratt & Whitney GTF™ engines, at a celebration at Tampa International Airport.

It opened the trading session at $83.74, the shares rose to $85.54 and dropped to $83.31, the range by which the price of stock traded the whole day. The daily chart for RTX points out that the company has recorded -17.16% loss over the past six months. However, it is still -7.08% lower than its most recent low trading price.

If we look at the average trading volume of 4.71M shares, RTX reached to a volume of 4544291 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 $108.78 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.

Wolfe Research have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on October 11, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on April 08, 2022, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise from $110 to $111, while Wolfe Research kept a Outperform rating on RTX stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 2.14, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 1.92. The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 3.22. Price to Free Cash Flow for RTX in the course of the last twelve months was 85.59 with Quick ratio for the last quarter at 0.80.

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 -1.10. With this latest performance, RTX shares dropped by -3.66% in over the last four-week period, additionally sinking by -17.16% over the last 6 months – not to mention a drop of -5.90% 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 47.06, with the RSI for the last a single of trading hit 51.58, and the three-weeks RSI is set at 45.13 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 88.54, while it was recorded at 84.45 for the last single week of trading, and 93.25 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 0.80 and a Current Ratio set at 1.10.

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 13.50%.

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

There are presently around $101,167 million, or 81.50% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: STATE STREET CORP with ownership of 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 $10.35 billion in RTX stocks shares; and BLACKROCK INC., currently with $8.36 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 October and at the time of the October reporting period, where 1,151 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 47,051,298 shares. Additionally, 967 investors decreased positions by around 44,428,101 shares, while 305 investors held positions by with 1,104,485,329 shares. The mentioned changes placed institutional holdings at 1,195,964,728 shares, according to the latest SEC report filing. RTX stock had 145 new institutional investments in for a total of 8,745,288 shares, while 116 institutional investors sold positions of 11,835,442 shares during the same period.


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