RTX (NYSE:RTX) Trading Down 0.5% – Here’s Why

RTX Co. (NYSE:RTX)’s share price traded down 0.5% during trading on Wednesday . The stock traded as low as $121.88 and last traded at $122.13. 694,076 shares traded hands during trading, a decline of 90% from the average session volume of 6,704,343 shares. The stock had previously closed at $122.79.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Melius Research upped their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Morgan Stanley boosted their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $177.27.

RTX Trading Down 1.7 %

The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market cap of $158.38 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.12 and a beta of 0.82. The company’s fifty day moving average is $122.13 and its two-hundred day moving average is $111.89.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the firm earned $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 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. RTX’s payout ratio is currently 72.00%.

Hedge Funds Weigh In On RTX

Large investors have recently made changes to their positions in the stock. Elgethun Capital Management grew its holdings in RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC raised its position in shares of RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after buying an additional 86 shares during the period. Canal Capital Management LLC boosted its holdings in RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after acquiring an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC grew its position in RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after acquiring an additional 89 shares during the period. Hedge funds and other institutional investors 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.