Yahoo Finance Why RTX (RTX) is a Top Momentum Stock for the Long-Term
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
RTX (RTX)
In July 2023, Raytheon Technologies was renamed as RTX Corporation. On Apr 3, 2020, Raytheon Technologies was formed following the completion of merger between United Technologies and Raytheon Company. Based in Waltham, MA, Raytheon Technologies has emerged as an aerospace and defense company, with pro-forma combined annual revenues of $74 billion as of the end of 2019, providing advanced systems and services for commercial, military and government customers worldwide. Effective July 2023, the company operates through three business segments.
RTX sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 0.8% and up 6.3% over the past one-week and four-week period, respectively, and RTX has lost 3.7% in the last one-year period as well. Additionally, an average of 8,144,367 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, two analysts revised their earnings estimate higher in the last 60 days for RTX, while the Zacks Consensus Estimate has increased $0 to $5.39 per share. RTX also boasts an average earnings surprise of 7.1%.
RTX should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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RTX Corporation (RTX) : Free Stock Analysis Report
