Raytheon Technologies Corporation [NYSE: RTX] loss -2.79% or -2.86 points to close at $99.60 with a heavy trading volume of 6376486 shares. The company report on January 3, 2023 that Raytheon Technologies to release fourth quarter results on January 24, 2023.
Raytheon Technologies (NYSE: RTX) will issue its fourth quarter 2022 earnings Tuesday, Jan. 24, prior to the stock market opening. A conference call will take place at 8:30 a.m. ET.
The conference call will be webcast live on the company’s website at www.rtx.com and will be available for replay following the call. A presentation corresponding with the conference call will be available for downloading prior to the call.
It opened the trading session at $102.73, the shares rose to $102.78 and dropped to $98.78, the range by which the price of stock traded the whole day. The daily chart for RTX points out that the company has recorded 5.16% gains over the past six months. However, it is still -24.08% lower than its most recent low trading price.
If we look at the average trading volume of 4.52M shares, RTX reached to a volume of 6376486 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 $106.96 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 2.20. 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.
Citigroup have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 08, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on October 12, 2022, representing the official price target for Raytheon Technologies Corporation 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 2.18. The Price to Book ratio for the last quarter was 2.09, with the Price to Cash per share for the same quarter was set at 3.72. Price to Free Cash Flow for RTX in the course of the last twelve months was 766.81 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 -1.31. With this latest performance, RTX shares gained by 0.57% in over the last four-week period, additionally plugging by 5.16% over the last 6 months – not to mention a rise of 10.59% 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 51.94, with the RSI for the last a single of trading hit 47.89, and the three-weeks RSI is set at 54.20 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 97.70, while it was recorded at 100.92 for the last single week of trading, and 93.95 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 11.38%.
An analysis of insider ownership at Raytheon Technologies Corporation [RTX]
There are presently around $116,365 million, or 80.90% 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 $12.27 billion in RTX stocks shares; and BLACKROCK INC., currently with $9.79 billion in RTX stock with ownership of nearly -0.476% of the company’s market capitalization.
Positions in Raytheon Technologies Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 1,079 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 32,476,555 shares. Additionally, 1,042 investors decreased positions by around 43,054,178 shares, while 291 investors held positions by with 1,092,792,338 shares. The mentioned changes placed institutional holdings at 1,168,323,071 shares, according to the latest SEC report filing. RTX stock had 129 new institutional investments in for a total of 6,673,842 shares, while 170 institutional investors sold positions of 8,450,449 shares during the same period.