RTX (NYSE:RTX) Lowered to Hold Rating by StockNews.com

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

Several other brokerages have also issued reports on RTX. Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Susquehanna lifted their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Trading Down 2.5 %

Shares of RTX stock opened at $122.68 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $120.79 and a two-hundred day moving average price of $120.63. RTX has a 12-month low of $88.90 and a 12-month high of $132.43. The firm has a market cap of $163.42 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts anticipate that RTX will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.05%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RTX. Norges Bank purchased a new position in shares of RTX during the 4th quarter worth approximately $1,745,644,000. T. Rowe Price Investment Management Inc. boosted its position in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Amundi boosted its position in shares of RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Finally, Capital Wealth Planning LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $216,340,000. Hedge funds and other 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.