Wells Fargo slashes price target on RTX Corp [RTX] – find out why.

RTX Corp [NYSE: RTX] gained 0.08% or 0.08 points to close at $97.53 with a heavy trading volume of 9377898 shares. The company report on March 29, 2024 at 3:06 PM that RTX’s SM-6 intercepts ballistic missile target at sea.

Test of enhanced software succeeds against sophisticated medium-range ballistic missile.

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A Standard Missile-6 (SM-6) built by Raytheon, an RTX (NYSE: RTX) business, intercepted a medium-range ballistic missile target at sea in its final seconds of flight, after being fired from the USS Preble (DDG 88). This test verified some of the missile’s enhanced capabilities when launched from a Baseline 9.C2 variant of the Aegis Combat System.

The daily chart for RTX points out that the company has recorded 33.82% gains over the past six months.

If we look at the average trading volume of 7.97M shares, RTX reached to a volume of 9377898 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 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 $97.64 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 2.50. 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.

Wells Fargo have made an estimate for RTX Corp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 14, 2024. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $78 to $100. The new note on the price target was released on January 25, 2024, representing the official price target for RTX Corp stock. Previously, the target price had yet another raise from $88 to $94, while Robert W. Baird kept a Neutral rating on RTX stock.

The Average True Range (ATR) for RTX Corp is set at 1.34, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 1.88. The Price to Book ratio for the last quarter was 2.16, with the Price to Cash per share for the same quarter was set at 4.95. Price to Free Cash Flow for RTX in the course of the last twelve months was 23.72 with Quick ratio for the last quarter at 0.78.

Trading performance analysis for RTX stock

RTX Corp [RTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.47. With this latest performance, RTX shares gained by 8.46% in over the last four-week period, additionally plugging by 33.82% over the last 6 months – not to mention a rise of 0.75% 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 78.44, with the RSI for the last a single of trading hit 83.83, and the three-weeks RSI is set at 74.31 for RTX Corp [RTX]. The present Moving Average for the last 50 days of trading for this stock 91.29, while it was recorded at 96.44 for the last single week of trading, and 85.78 for the last 200 days.

RTX Corp [RTX]: A deeper dive into fundamental analysis

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 Corp [RTX]: An earnings per share (EPS) analysis

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 11.29%.

An analysis of Institutional ownership at RTX Corp [RTX]

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%.