RTX (NYSE:RTX) Trading Down 0.3% – What’s Next?

RTX Co. (NYSE:RTX)’s share price was down 0.3% during mid-day trading on Thursday . The stock traded as low as $120.58 and last traded at $121.52. 652,944 shares changed hands during trading, a decline of 90% from the average daily volume of 6,695,309 shares. The stock had previously closed at $121.86.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RTX. Robert W. Baird increased their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Susquehanna lifted their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley increased their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $177.27.

RTX Trading Down 0.5 %

The stock has a market capitalization of $161.47 billion, a price-to-earnings ratio of 47.65, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a 50 day moving average of $122.07 and a 200 day moving average of $111.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the business posted $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts predict that RTX Co. will post 5.57 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.08%. RTX’s dividend payout ratio (DPR) is 98.82%.

Hedge Funds Weigh In On RTX

Several large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of RTX by 13.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 393,854 shares of the company’s stock valued at $38,413,000 after acquiring an additional 46,541 shares during the period. Valley National Advisers Inc. lifted its stake in RTX by 44.7% during the first quarter. Valley National Advisers Inc. now owns 1,729 shares of the company’s stock worth $168,000 after purchasing an additional 534 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its position in shares of RTX by 4.0% during the first quarter. SeaBridge Investment Advisors LLC now owns 20,848 shares of the company’s stock worth $2,033,000 after buying an additional 805 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of RTX in the first quarter valued at $3,383,000. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of RTX by 94.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 422,753 shares of the company’s stock valued at $41,231,000 after buying an additional 205,868 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.