RTX (NYSE:RTX) Shares Up 0.1%

RTX Co. (NYSE:RTX)’s stock price rose 0.1% during mid-day trading on Thursday . The company traded as high as $119.79 and last traded at $119.38. Approximately 536,538 shares traded hands during trading, a decline of 92% from the average daily volume of 7,011,683 shares. The stock had previously closed at $119.26.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent research reports. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Wells Fargo & Company decreased their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $157.31.

RTX Stock Up 0.4 %

The firm has a 50-day moving average price of $113.34 and a two-hundred day moving average price of $104.95. The company has a market capitalization of $159.30 billion, a price-to-earnings ratio of 46.82, a PEG ratio of 2.08 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 earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, sell-side analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insider Buying and Selling at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last three months. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of RTX

Several hedge funds have recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the 2nd quarter worth about $32,000. Fairman Group LLC purchased a new stake in RTX in the fourth quarter valued at approximately $38,000. Finally, Beaird Harris Wealth Management LLC grew its stake in RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after buying an additional 139 shares in the last quarter. Institutional investors 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.