- RTX (RTX) recently hit new all-time highs of $214.50 and has robust technical momentum.
- RTX has gained nearly 63% over the past year.
- The stock maintains a 100% “Buy” technical opinion from Barchart.
- Analyst sentiment is mixed. Some see RTX as overvalued or a “Hold” at current levels.
Author’s Note: RTX was last featured on Sept. 24 when it closed at $163.03. Since then, it has gained 28.66%. It came up again in my screener today.
Today’s Featured Stock
Valued at $281 billion, RTX (RTX) is an aerospace and defense company. Its operating segments include Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. RTX Corporation, formerly known as Raytheon Technologies Corporation, is headquartered in Arlington, Virginia.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. RTX checks those boxes.
Barchart Technical Indicators for RTX
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
RTX scored an all-time high of $214.50 on March 3.
- RTX has a Weighted Alpha of +67.10.
- It has a 100% “Buy” opinion from Barchart.
- The stock has gained 63.52% over the past 52 weeks.
- RTX has its Trend Seeker “Buy” signal intact.
- The stock recently traded at $209.76 with a 50-day moving average of $196.96.
- RTX has made 8 new highs and is up 5.59% over the past month.
- Relative Strength Index (RSI) is at 59.59.
- There’s a technical support level around $205.62.
Don’t Forget the Fundamentals
- $281 billion market capitalization.
- 32.46x trailing price-earnings ratio.
- 1.31% dividend yield.
- Revenue is projected to grow 5.42% this year and another 6.68% next year.
- Earnings are estimated to increase 8.3% this year and an additional 10.24% next year.
Analyst and Investor Sentiment on RTX
- The Wall Street analysts followed by Barchart gave the stock 13 “Strong Buy,” 1 “Moderate Buy,” 7 “Hold,” and 1 “Sell” opinion with price targets between $160 and $238.
- Value Line rates the stock “Above Average” with price targets between $133 and $251.
- CFRA’s MarketScope rates the stock a “Hold” with a price target of $216.
- Morningstar thinks the stock is 17% overvalued with a fair value of $179.
- 3,107 investors following the stock on Motley Fool think it will beat the market while 214 think it won’t.
- 173,890 investors are following the stock on Seeking Alpha, which rates it a “Hold.”
- Short interest is 0.92% of the float with 1.91 days to cover the float.
The Bottom Line on RTX
RTX operates in a highly competitive market with rapid technological advances. Defense stocks are hot right now. They have a very broad following from both professional and individual investors, and very low short interests
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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