Raytheon Technologies Corporation [RTX] is -2.72% lower this YTD. Is it still time to buy?

Raytheon Technologies Corporation [NYSE: RTX] plunged by -$1.33 during the normal trading session on Tuesday and reaching a high of $99.93 during the day while it closed the day at $98.18. The company report on March 6, 2023 that Pratt & Whitney Awarded F135 Production Contract for Lots 15-17.


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Pratt & Whitney, a Raytheon Technologies (NYSE: RTX) business, announced today that it has been awarded a $5.2 billion contract to support production of the 15th and 16th lots of F135 engines, with an option to award a 17th Lot, powering all three variants of the F-35 Lightning II fighter aircraft.

The Lots 15-17 production contract funds production of 278 F135 engines with an option to order up to a total of 518 engines. The contract also includes program management, engineering support, production support and tooling. The total contract value for lots 15-17, with exercised options, is approximately $8 billion and will fund over 418 F135 engines with options for the U.S. as well as international customers.

Raytheon Technologies Corporation stock has also gained 0.09% of its value over the past 7 days. However, RTX stock has declined by -2.80% in the 3 months of the year. Over the past six months meanwhile, it has gained 12.09% and lost -2.72% year-on date.

The market cap for RTX stock reached $143.80 billion, with 1.47 billion shares outstanding and 1.45 billion shares in the current float. Compared to the average trading volume of 4.50M shares, RTX reached a trading volume of 4530727 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 $109.19 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.

Goldman have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 13, 2023. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on December 08, 2022, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $85, while Credit Suisse analysts kept a Neutral rating on RTX stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 1.68, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.14. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 4.25. Price to Free Cash Flow for RTX in the course of the last twelve months was 82.08 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 0.09. With this latest performance, RTX shares gained by 1.76% in over the last four-week period, additionally plugging by 12.09% over the last 6 months – not to mention a drop of -1.42% 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 44.55, with the RSI for the last a single of trading hit 40.22, and the three-weeks RSI is set at 47.20 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 99.18, while it was recorded at 98.75 for the last single week of trading, and 94.03 for the last 200 days.

Raytheon Technologies Corporation [RTX]: An insightful look at the core fundamentals

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 13.40%.

Raytheon Technologies Corporation [RTX]: Insider Ownership positions

There are presently around $117,023 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 125,881,576, which is approximately -2.378% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 124,014,262 shares of the stock with an approximate value of $12.18 billion in RTX stocks shares; and BLACKROCK INC., currently with $9.93 billion in RTX stock with ownership of nearly 2.885% of the company’s market capitalization.

1,311 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 41,962,282 shares. Additionally, 931 investors decreased positions by around 32,146,420 shares, while 308 investors held positions by with 1,117,812,587 shares. The mentioned changes placed institutional holdings at 1,191,921,289 shares, according to the latest SEC report filing. RTX stock had 304 new institutional investments in for a total of 7,309,900 shares, while 97 institutional investors sold positions of 3,893,033 shares during the same period.

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