why Raytheon Technologies Corporation [RTX] is a Good Choice for Investors After New Price Target of $104.00

Raytheon Technologies Corporation [NYSE: RTX] jumped around 2.84 points on Tuesday, while shares priced at $95.79 at the close of the session, up 3.06%. 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 is now 11.31% up from its year-to-date (YTD) trading value. RTX Stock saw the intraday high of $95.95 and lowest of $93.3446 per share. The company’s 52-week high price is 106.02, which means current price is +19.33% above from all time high which was touched on 04/21/22.

Compared to the average trading volume of 5.00M shares, RTX reached a trading volume of 7493984 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 $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 2.10. 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 2.52, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 2.01, with the Price to Cash per share for the same quarter was set at 3.50. Price to Free Cash Flow for RTX in the course of the last twelve months was 782.54 with Quick ratio for the last quarter at 0.80.

How has RTX stock performed recently?

Raytheon Technologies Corporation [RTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.50. With this latest performance, RTX shares gained by 13.40% in over the last four-week period, additionally plugging by 0.88% over the last 6 months – not to mention a rise of 7.21% 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 59.91, with the RSI for the last a single of trading hit 59.06, and the three-weeks RSI is set at 59.05 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 87.89, while it was recorded at 95.07 for the last single week of trading, and 93.54 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 11.38%.

Insider trade positions for Raytheon Technologies Corporation [RTX]

There are presently around $113,411 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 128,948,572, which is approximately -0.464% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 123,174,905 shares of the stock with an approximate value of $11.8 billion in RTX stocks shares; and BLACKROCK INC., currently with $9.42 billion in RTX stock with ownership of nearly -0.476% of the company’s market capitalization.

1,093 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 32,576,958 shares. Additionally, 1,046 investors decreased positions by around 43,692,196 shares, while 294 investors held positions by with 1,107,686,375 shares. The mentioned changes placed institutional holdings at 1,183,955,529 shares, according to the latest SEC report filing. RTX stock had 130 new institutional investments in for a total of 6,767,885 shares, while 170 institutional investors sold positions of 8,344,938 shares during the same period.


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