DZ Bank slashes price target on Raytheon Technologies Corporation [RTX] – find out why.

Raytheon Technologies Corporation [NYSE: RTX] surged by $1.73 during the normal trading session on Wednesday and reaching a high of $77.15 during the day while it closed the day at $76.56. The company report on February 24, 2021 that Blue Canyon Technologies to Develop Six Additional DARPA Blackjack Satellites.

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Leading small satellite manufacturer and mission services provider Blue Canyon Technologies LLC (“BCT” or “Blue Canyon”), a wholly-owned subsidiary of Raytheon Technologies (NYSE: RTX), announced it will develop an additional six satellites for the Defense Advanced Research Projects Agency’s Blackjack program under a Phase 3 contract.


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“We’re demonstrating an economy of scale previously unheard of for national security space assets, and we’re proving it can be done on a rapid schedule,” said George Stafford, co-founder and CEO of Blue Canyon Technologies. “Blackjack will deliver persistent coverage in low Earth orbit that’s resilient by numbers.”.

Raytheon Technologies Corporation stock has also gained 1.98% of its value over the past 7 days. However, RTX stock has inclined by 4.82% in the 3 months of the year. Over the past six months meanwhile, it has gained 29.22% and gained 7.06% year-on date.

The market cap for RTX stock reached $115.16 billion, with 1.50 billion shares outstanding and 1.39 billion shares in the current float. Compared to the average trading volume of 7.33M shares, RTX reached a trading volume of 6757275 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 $84.53 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 2.00. 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.

DZ Bank have made an estimate for Raytheon Technologies Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 17, 2020. The new note on the price target was released on November 10, 2020, representing the official price target for Raytheon Technologies Corporation stock. Previously, the target price had yet another raise to $89, while Morgan Stanley analysts kept a Overweight rating on RTX stock.

The Average True Range (ATR) for Raytheon Technologies Corporation is set at 2.16, with the Price to Sales ratio for RTX stock in the period of the last 12 months amounting to 2.04. The Price to Book ratio for the last quarter was 1.59, with the Price to Cash per share for the same quarter was set at 5.85.

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 1.98. With this latest performance, RTX shares gained by 5.61% in over the last four-week period, additionally plugging by 29.22% over the last 6 months – not to mention a rise of 8.74% 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 60.77, with the RSI for the last a single of trading hit 62.68, and the three-weeks RSI is set at 59.42 for Raytheon Technologies Corporation [RTX]. The present Moving Average for the last 50 days of trading for this stock 71.41, while it was recorded at 75.32 for the last single week of trading, and 65.49 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 0.90 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for Raytheon Technologies Corporation [RTX] stock

With the latest financial reports released by the company, Raytheon Technologies Corporation posted 1.02/share EPS, while the average EPS was predicted by analysts to be reported at 1.22/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -16.40%. 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 23.66%.

Raytheon Technologies Corporation [RTX]: Insider Ownership positions

There are presently around $90,753 million, or 78.90% of RTX stock, in the hands of institutional investors. The top three institutional holders of RTX stocks are: VANGUARD GROUP INC with ownership of 127,888,312, which is approximately -1.136% of the company’s market cap and around 0.10% of the total institutional ownership; STATE STREET CORP, holding 120,401,724 shares of the stock with an approximate value of $9.22 billion in RTX stocks shares; and BLACKROCK INC., currently with $7.54 billion in RTX stock with ownership of nearly -0.497% of the company’s market capitalization.

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1,007 institutional holders increased their position in Raytheon Technologies Corporation [NYSE:RTX] by around 90,451,672 shares. Additionally, 997 investors decreased positions by around 73,604,377 shares, while 188 investors held positions by with 1,021,325,235 shares. The mentioned changes placed institutional holdings at 1,185,381,284 shares, according to the latest SEC report filing. RTX stock had 281 new institutional investments in for a total of 13,119,501 shares, while 115 institutional investors sold positions of 18,110,520 shares during the same period.

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