Raytheon Technologies Corporation [RTX] Stock trading around $95.13 per share: What’s Next?

Raytheon Technologies Corporation [NYSE: RTX] plunged by -$1.14 during the normal trading session on Wednesday and reaching a high of $96.425 during the day while it closed the day at $95.13. The company report on October 27, 2022 that Raytheon Technologies CFO to present at Baird’s 2022 Global Industrial Conference.

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Raytheon Technologies (NYSE: RTX) Chief Financial Officer Neil Mitchill will speak at Baird’s 2022 Global Industrial Conference on Tuesday, Nov. 8 at 9:30 a.m. Eastern Time. The presentation will be broadcast live at www.rtx.com and will be archived on the website afterward.

About Raytheon TechnologiesRaytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Arlington, Virginia.

Raytheon Technologies Corporation stock has also gained 1.04% of its value over the past 7 days. However, RTX stock has inclined by 2.13% in the 3 months of the year. Over the past six months meanwhile, it has gained 4.54% and gained 10.54% year-on date.

The market cap for RTX stock reached $138.78 billion, with 1.47 billion shares outstanding and 1.47 billion shares in the current float. Compared to the average trading volume of 4.90M shares, RTX reached a trading volume of 3476840 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $104.00 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.

Credit Suisse have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 12, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on October 11, 2022, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $125, while RBC Capital Mkts analysts kept a Outperform rating on RTX stock. On February 16, 2022, analysts increased their price target for RTX shares from 110 to 111.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 2.28, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.10. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 3.69. Price to Free Cash Flow for RTX in the course of the last twelve months was 738.18 with Quick ratio for the last quarter at 0.80.

RTX stock trade performance evaluation

Raytheon Technologies Corporation [RTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.04. With this latest performance, RTX shares gained by 12.46% in over the last four-week period, additionally plugging by 4.54% over the last 6 months – not to mention a rise of 4.55% 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 64.67, with the RSI for the last a single of trading hit 65.58, and the three-weeks RSI is set at 61.83 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 87.34, while it was recorded at 95.52 for the last single week of trading, and 93.43 for the last 200 days.

Raytheon Technologies Corporation [RTX]: An insightful look at the core 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 per share (EPS) analysis for Raytheon Technologies Corporation [RTX] stock

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 11.38%.

Raytheon Technologies Corporation [RTX]: Insider Ownership positions

There are presently around $113,800 million, or 81.80% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: STATE STREET CORP with ownership of 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 $11.65 billion in RTX stocks shares; and BLACKROCK INC., currently with $9.4 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 1,132 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 48,407,251 shares. Additionally, 991 investors decreased positions by around 44,532,934 shares, while 292 investors held positions by with 1,103,315,484 shares. The mentioned changes placed institutional holdings at 1,196,255,669 shares, according to the latest SEC report filing. RTX stock had 119 new institutional investments in for a total of 9,434,204 shares, while 160 institutional investors sold positions of 13,147,137 shares during the same period.


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