RTX (NYSE:RTX) Lowered to Hold at StockNews.com

StockNews.com cut shares of RTX (NYSE:RTX) from a buy rating to a hold rating in a report issued on Sunday.

A number of other brokerages also recently commented on RTX. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Melius Research boosted their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on RTX from $110.00 to $130.00 and gave the stock an overweight rating in a report on Monday, July 29th. Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an equal weight rating on the stock in a research note on Wednesday, July 24th. Finally, Barclays boosted their target price on shares of RTX from $90.00 to $100.00 and gave the stock an equal weight rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, RTX presently has an average rating of Hold and an average price target of $153.47.

RTX Price Performance

RTX stock traded up $0.48 on Friday, hitting $116.63. 2,146,651 shares of the company’s stock traded hands, compared to its average volume of 7,307,225. The stock has a market cap of $155.15 billion, a price-to-earnings ratio of 45.59, a P/E/G ratio of 2.02 and a beta of 0.82. RTX has a 1-year low of $68.56 and a 1-year high of $118.30. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $106.44 and a 200-day moving average of $100.46.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter last year, the business posted $1.29 EPS. RTX’s revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that RTX will post 5.44 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Insider Transactions at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last three months. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several institutional investors have recently modified their holdings of the business. Kooman & Associates acquired a new position in RTX in the 2nd quarter worth $221,000. Blair William & Co. IL lifted its holdings in shares of RTX by 68.5% in the second quarter. Blair William & Co. IL now owns 357,342 shares of the company’s stock valued at $35,874,000 after purchasing an additional 145,324 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of RTX by 17.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 130,547 shares of the company’s stock worth $12,383,000 after buying an additional 19,235 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of RTX by 8.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,476 shares of the company’s stock worth $2,256,000 after buying an additional 1,668 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its position in RTX by 9.7% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 3,725 shares of the company’s stock valued at $374,000 after buying an additional 330 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Company Profile

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.