RTX (NYSE:RTX) Shares Down 0.2% – What’s Next?

by · The Cerbat Gem

RTX Co. (NYSE:RTX – Get Free Report) dropped 0.2% on Thursday . The company traded as low as $125.90 and last traded at $125.96. Approximately 445,603 shares traded hands during trading, a decline of 93% from the average daily volume of 6,798,514 shares. The stock had previously closed at $126.22.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research reports. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $162.50.

Read Our Latest Analysis on RTX

RTX Stock Performance

The company has a 50-day simple moving average of $120.50 and a two-hundred day simple moving average of $110.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $167.28 billion, a P/E ratio of 72.81, a PEG ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 EPS. As a group, equities analysts forecast that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s dividend payout ratio is currently 145.67%.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BCS Wealth Management lifted its position in RTX by 3.9% in the 3rd quarter. BCS Wealth Management now owns 4,635 shares of the company’s stock valued at $562,000 after acquiring an additional 174 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in RTX by 4.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 141,767 shares of the company’s stock valued at $17,176,000 after acquiring an additional 5,514 shares in the last quarter. Ellsworth Advisors LLC raised its stake in RTX by 2.5% during the 3rd quarter. Ellsworth Advisors LLC now owns 17,113 shares of the company’s stock valued at $2,073,000 after buying an additional 415 shares during the last quarter. Drake & Associates LLC purchased a new stake in RTX during the 3rd quarter valued at $251,000. Finally, Bleakley Financial Group LLC raised its stake in RTX by 0.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 40,194 shares of the company’s stock valued at $4,870,000 after buying an additional 133 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

About RTX

(Get Free Report)

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.

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