RTX (NYSE:RTX) Trading Down 0.2%

Shares of RTX Co. (NYSE:RTX) dropped 0.2% during mid-day trading on Monday . The company traded as low as $118.79 and last traded at $118.87. Approximately 789,248 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 6,984,249 shares. The stock had previously closed at $119.12.

Analysts Set New Price Targets

Several brokerages have recently commented on RTX. Robert W. Baird upped their price objective on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group raised their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Melius Research upped their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $157.31.

RTX Stock Up 0.2 %

The company’s 50 day simple moving average is $114.11 and its 200-day simple moving average is $105.47. The firm has a market cap of $158.82 billion, a P/E ratio of 46.62, a PEG ratio of 2.11 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued 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 company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.29 earnings per share. Research analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insider Activity at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s 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 owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RTX. Capital Research Global Investors grew its position in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its holdings in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after acquiring an additional 213,331 shares during the last quarter. Sanders Capital LLC grew its stake in RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after acquiring an additional 677,520 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Hedge funds and other 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.