RTX (NYSE:RTX) Stock Rating Lowered by StockNews.com

RTX (NYSE:RTX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other research analysts have also issued reports on the stock. Bank of America lifted their price target on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird lifted their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays lifted their price objective 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. TD Cowen lifted their price objective on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $148.69.

RTX Price Performance

NYSE:RTX traded up $0.48 during midday trading on Friday, hitting $113.95. 7,460,494 shares of the stock were exchanged, compared to its average volume of 7,454,204. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $151.50 billion, a price-to-earnings ratio of 44.69, a P/E/G ratio of 1.87 and a beta of 0.82. RTX has a one year low of $68.56 and a one year high of $115.82. The business has a 50-day moving average price of $104.47 and a two-hundred day moving average price of $98.22.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.12. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. Sell-side analysts predict that RTX will post 5.4 EPS for the current year.

Insiders Place Their Bets

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of hedge funds have recently bought and sold shares of the company. RFG Advisory LLC lifted its stake in shares of RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares during the period. TCW Group Inc. bought a new stake in shares of RTX in the fourth quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC bought a new stake in shares of RTX in the fourth quarter valued at about $672,000. Mather Group LLC. lifted its stake in shares of RTX by 8.5% in the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after buying an additional 1,079 shares during the period. Finally, AllGen Financial Advisors Inc. lifted its stake in shares of RTX by 12.8% in the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after buying an additional 3,657 shares during the period. 86.50% of the stock is currently owned by institutional investors.

About RTX

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.