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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in 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 is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 2.9% over the past one week and up 3.8% over the past four weeks. RTX has gained 42.5% in the last one-year period as well. Looking at trading volume, an average of 2,840,171.50 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For RTX, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $5.56 per share for 2024. RTX boasts an average earnings surprise of 7.6%.
Investors should take the time to consider RTX for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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RTX Corporation (RTX) : Free Stock Analysis Report