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Raytheon Technologies Corporation (NYSE: RTX): Can A Stock Be -4.74% Lower Year-To-Date And Still Be A Loser?

Raytheon Technologies Corporation (NYSE:RTX)’s traded shares stood at 2.17 million during the latest session, with the company’s beta value hitting 1.07. At the last check today, the stock’s price was $96.14, to imply a decrease of -1.98% or -$1.94 in intraday trading. The RTX share’s 52-week high remains $108.84, putting it -13.21% down since that peak but still an impressive 16.51% since price per share fell to its 52-week low of $80.27. The company has a valuation of $143.58B, with an average of 5.54 million shares in intraday trading volume over the past 10 days and average of 4.61 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Raytheon Technologies Corporation (RTX), translating to a mean rating of 2.20. Of 26 analyst(s) looking at the stock, 0 analyst(s) give RTX a Sell rating. 4 of those analysts rate the stock as Overweight while 11 advise Hold as 11 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.13.

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Raytheon Technologies Corporation (NYSE:RTX) trade information

After registering a -1.98% downside in the latest session, Raytheon Technologies Corporation (RTX) has traded red over the past five days. The stock hit a weekly high of 99.14 this Thursday, 03/16/23, dropping -1.98% in its intraday price action. The 5-day price performance for the stock is 0.14%, and -5.25% over 30 days. With these gigs, the year-to-date price performance is -4.74%. Short interest in Raytheon Technologies Corporation (NYSE:RTX) saw shorts transact 8.67 million shares and set a 1.94 days time to cover.

Analysts on Wall Street suggest a consensus price target of $109.30, implying an increase of 12.04% to the stock’s recent value. The extremes give us $100.00 and $120.00 for target low and target high price respectively. As such, RTX has been trading -24.82% off suggested target high and -4.01% from its likely low.

Raytheon Technologies Corporation (RTX) estimates and forecasts

Looking at statistics comparing Raytheon Technologies Corporation share performance against respective industry, we note that the company has outperformed competitors. Raytheon Technologies Corporation (RTX) shares are 12.29% up over the last 6 months, with its year-to-date growth rate higher than industry average at 4.60% against 2.60%. Revenue is forecast to shrink -1.70% this quarter before jumping 2.60% for the next one. The rating firms project that company’s revenue will grow 8.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 15 analysts is $16.87 billion. Meanwhile, for the quarter ending Jun 2023, a total of 15 analyst(s) estimate revenue growth to $17.54 billion.Earnings reports from the last fiscal year show that sales brought in $15.72 billion and $16.31 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 7.30% before jumping 7.50% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -11.80% for the past 5-year period. While 2023 is set for a 35.90% return in earnings, projections for the next 5 years are at 13.40% annually.

RTX Dividends

Raytheon Technologies Corporation has its next earnings report out between April 24 and April 28. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Raytheon Technologies Corporation has a forward dividend ratio of 2.20, with the share yield ticking at 2.24% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Raytheon Technologies Corporation (NYSE:RTX)’s Major holders

Raytheon Technologies Corporation insiders hold 0.10% of total outstanding shares, with institutional holders owning 81.29% of the shares at 81.37% float percentage. In total, 81.29% institutions holds shares in the company, led by State Street Corporation. As of Sep 29, 2022, the company held over 128.95 million shares (or 8.77% of shares), all amounting to roughly $10.56 billion.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 123.17 million shares, or about 8.38% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $10.08 billion.

We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Raytheon Technologies Corporation (RTX) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 44.05 million shares. This is just over 3.00% of the total shares, with a market valuation of $3.61 billion. Data from the same date shows that the other fund manager holds a little less at 33.47 million, or 2.28% of the shares, all valued at about 2.74 billion.

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