Raytheon Technologies Corporation (NYSE: RTX) is 8.63% higher on its value in year-to-date trading and has touched a low of $48.05 and a high of $80.06 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RTX stock was last observed hovering at around $78.17 in the last trading session, with the day’s loss setting it -0.49% off its average median price target of $85.00 for the next 12 months. It is also 23.84% off the consensus price target high of $102.00 offered by 20 analysts, but current levels are -10.97% lower than the price target low of $70.00 for the same period.
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Currently trading at $77.68, the stock is 1.32% and 6.13% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.08 million and changing -0.63% at the moment leaves the stock 17.53% off its SMA200. RTX registered 35.57% gain for a year compared to 6-month gain of 35.12%. The firm has a 50-day simple moving average (SMA 50) of $75.26 and a 200-day simple moving average (SMA200) of $68.06.
The stock witnessed a 7.90% loss in the last 1 month and extending the period to 3 months gives it a 10.55%, and is 0.99% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.81% over the week and 2.67% over the month.
Raytheon Technologies Corporation (RTX) has around 181000 employees, a market worth around $116.80B and $56.59B in sales. Fwd P/E is 15.03. Profit margin for the company is -6.20%. Distance from 52-week low is 61.66% and -2.97% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.40%).
Raytheon Technologies Corporation (RTX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Raytheon Technologies Corporation (RTX) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 2.00, where 6 rate it as a Hold and 2 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Raytheon Technologies Corporation quarterly earnings per share for the current quarter are estimated at $0.73 with sales reaching $15.27B over the same period.The EPS is expected to shrink by -156.40% this year, but quarterly earnings will post 14.30% year-over-year. Quarterly sales are estimated to shrink -16.20% in year-over-year returns.
Raytheon Technologies Corporation (RTX) Top Institutional Holders
2,298 institutions hold shares in Raytheon Technologies Corporation (RTX), with 1.51M shares held by insiders accounting for 0.10% while institutional investors hold 77.17% of the company’s shares. The shares outstanding are 1.50B, and float is at 1.39B with Short Float at 1.23%. Institutions hold 77.09% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 127.89 million shares valued at $9.15 billion. The investor’s holdings represent 8.42% of the RTX Shares outstanding. As of Dec 30, 2020, the second largest holder is State Street Corporation with 120.4 million shares valued at $8.61 billion to account for 7.92% of the shares outstanding. The other top investors are Blackrock Inc. which holds 98.44 million shares representing 6.48% and valued at over $7.04 billion, while Wellington Management Group, LLP holds 3.61% of the shares totaling 54.78 million with a market value of $3.92 billion.
Raytheon Technologies Corporation (RTX) Insider Activity
The most recent transaction is an insider purchase by Kennedy Thomas A ,the company’sExecutive Chairman. SEC filings show that Kennedy Thomas A bought 19,059 shares of the company’s common stock on Oct 29 at a price of $52.47 per share for a total of $1.0 million. Following the purchase, the insider now owns 0.36 million shares.
Raytheon Technologies Corporation disclosed in a document filed with the SEC on Oct 29 that Jimenez Frank R (EVP and General Counsel) bought a total of 1,000 shares of the company’s common stock. The trade occurred on Oct 29 and was made at $52.57 per share for $52570.0. Following the transaction, the insider now directly holds 61113.0 shares of the RTX stock.
Still, SEC filings show that on Oct 29, Paliwal Dinesh C (Director) acquired 9,532 shares at an average price of $52.41 for $0.5 million. The insider now directly holds 19,947 shares of Raytheon Technologies Corporation (RTX).