StockNews.com Lowers RTX (NYSE:RTX) to Hold

StockNews.com downgraded shares of RTX (NYSE:RTX) from a buy rating to a hold rating in a research note published on Sunday.

RTX has been the subject of several other research reports. Wells Fargo & Company cut their price objective on RTX from $491.00 to $467.00 and set an equal weight rating for the company in a report on Wednesday, July 24th. Melius Research raised their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. UBS Group upped their target price on shares of RTX from $103.00 to $105.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Robert W. Baird raised their price target on RTX from $105.00 to $115.00 and gave the company a neutral rating in a research report on Friday, July 26th. Finally, Barclays increased their price target on shares of RTX from $90.00 to $100.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $153.47.

RTX Price Performance

RTX stock traded up $0.48 during mid-day trading on Friday, reaching $116.63. 2,146,651 shares of the company traded hands, compared to its average volume of 7,307,225. The company has a fifty day moving average price of $106.44 and a 200-day moving average price of $100.46. RTX has a 52-week low of $68.56 and a 52-week high of $118.30. The company has a market capitalization of $155.15 billion, a P/E ratio of 45.59, a P/E/G ratio of 2.02 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 announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. As a group, analysts anticipate that RTX will post 5.44 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Insider Transactions at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on 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 owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. 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 three months. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Briaud Financial Planning Inc grew its holdings in 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 in the last quarter. Lynx Investment Advisory purchased a new position in RTX during the second quarter valued at $26,000. Bear Mountain Capital Inc. bought a new stake in RTX in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the 2nd quarter worth $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX during the 2nd quarter valued at about $41,000. 86.50% of the stock is currently owned by institutional investors.

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.