RTX Corp [RTX] Stock trading around $90.42 per share: What’s Next?

RTX Corp [NYSE: RTX] price surged by 0.44 percent to reach at $0.4. The company report on February 27, 2024 at 9:00 AM that RTX’s Raytheon completes first flight test for new AMRAAM-ER variant.

Successful test showcases increased capabilities of upgraded AMRAAM-ER.

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Raytheon, an RTX (NYSE: RTX) business, and Kongsberg Defence & Aerospace, with support from the Norwegian Ministry of Defense (MoD) and Armed Forces, successfully completed a flight test of an updated AMRAAM®-Extended Range missile variant from a National Advanced Surface-to-Air Missile System (NASAMS). The successful flight test showcases the increased capabilities of the upgraded AMRAAM-ER.

The one-year RTX stock forecast points to a potential upside of 6.18. The average equity rating for RTX stock is currently 2.58, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on RTX Corp [RTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RTX shares is $96.38 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 2.58. 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.

BofA Securities have made an estimate for RTX Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 25, 2024. While these analysts kept the previous recommendation, Robert W. Baird raised their target price from $88 to $94. The new note on the price target was released on January 16, 2024, representing the official price target for RTX Corp stock. On October 27, 2023, analysts decreased their price target for RTX shares from 79 to 68.

The Average True Range (ATR) for RTX Corp is set at 1.36, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 1.74. 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 4.96. Price to Free Cash Flow for RTX in the course of the last twelve months was 21.94 with Quick ratio for the last quarter at 0.78.

RTX Stock Performance Analysis:

RTX Corp [RTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.62. With this latest performance, RTX shares gained by 0.01% in over the last four-week period, additionally plugging by 6.77% over the last 6 months – not to mention a drop of -9.24% 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 54.78, with the RSI for the last a single of trading hit 50.73, and the three-weeks RSI is set at 57.37 for RTX Corp [RTX]. The present Moving Average for the last 50 days of trading for this stock 87.56, while it was recorded at 90.04 for the last single week of trading, and 86.12 for the last 200 days.

Insight into RTX Corp Fundamentals:

RTX Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.78 and a Current Ratio set at 1.04.

RTX Stock EPS

With the latest financial reports released by the company, RTX Corp posted 1.22/share EPS, while the average EPS was predicted by analysts to be reported at 1.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.00%. 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 RTX Corp go to 10.91%.

RTX Corp [RTX] Institutonal Ownership Details

The top three institutional holders of RTX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RTX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RTX stock with ownership which is approximately 5.8325%.