RTX (NYSE:RTX) Stock Price Down 1.8%

RTX Co. (NYSE:RTX)’s share price was down 1.8% during trading on Wednesday . The company traded as low as $117.95 and last traded at $118.17. Approximately 872,588 shares changed hands during trading, a decline of 88% from the average daily volume of 7,025,137 shares. The stock had previously closed at $120.30.

Analyst Upgrades and Downgrades

RTX has been the topic of several research analyst reports. Susquehanna upped their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. TD Cowen increased their price target on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, Robert W. Baird lifted their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $153.47.

RTX Stock Down 1.1 %

The stock has a 50-day moving average of $112.97 and a 200-day moving average of $104.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market cap of $158.19 billion, a price-to-earnings ratio of 46.34, a P/E/G ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. Sell-side analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Activity

In related news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Briaud Financial Planning Inc grew its stake in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the second quarter valued at about $32,000. Fairman Group LLC acquired a new stake in shares of RTX during the fourth quarter valued at about $38,000. Finally, Beaird Harris Wealth Management LLC grew its holdings in shares of RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

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.