RTX (NYSE:RTX) Downgraded to “Hold” at StockNews.com

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

Other research analysts have also issued reports about the company. UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Susquehanna raised their price target on RTX from $119.00 to $140.00 and gave the stock a positive rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on RTX from $110.00 to $130.00 and gave the stock an overweight rating in a research report on Monday, July 29th. Melius Research raised their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price target on RTX from $102.00 to $115.00 and gave the stock a sector perform rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RTX has an average rating of Hold and an average target price of $153.47.

RTX Trading Up 0.7 %

RTX stock opened at $117.65 on Friday. The business has a fifty day moving average price of $106.99 and a 200 day moving average price of $100.94. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $118.30. The stock has a market capitalization of $156.50 billion, a price-to-earnings ratio of 46.14, a P/E/G ratio of 2.05 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during 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 last year, the firm posted $1.29 EPS. Analysts expect that RTX will post 5.44 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is 98.82%.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated 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 owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RFG Advisory LLC increased its position in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after buying an additional 19,779 shares during the last quarter. TCW Group Inc. bought a new stake in shares of RTX during the fourth quarter worth approximately $1,912,000. Robinson Smith Wealth Advisors LLC bought a new stake in shares of RTX during the fourth quarter worth approximately $672,000. Mather Group LLC. boosted its holdings in shares of RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,079 shares during the period. Finally, AllGen Financial Advisors Inc. boosted its holdings in shares of RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after acquiring an additional 3,657 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.