RTX (NYSE:RTX) Stock Price Down 1.8%

RTX Co. (NYSE:RTX) shares fell 1.8% during trading on Wednesday . The stock traded as low as $117.95 and last traded at $118.17. 872,588 shares traded hands during trading, a decline of 88% from the average session volume of 7,025,137 shares. The stock had previously closed at $120.30.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. TD Cowen raised their target price on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $153.47.

RTX Price Performance

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

RTX (NYSE:RTX) last announced 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. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Equities analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Elgethun Capital Management grew its stake in RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares in the last quarter. Alpha Omega Wealth Management LLC grew its stake in shares of RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after buying an additional 89 shares in the last quarter. Lazari Capital Management Inc. increased its holdings in RTX by 1.6% during the second quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock worth $603,000 after buying an additional 95 shares during the last quarter. Motco raised its position in RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after acquiring an additional 99 shares in the last quarter. Finally, D Orazio & Associates Inc. lifted its stake in RTX by 4.0% in the second quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds 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.