RTX (NYSE:RTX) Shares Down 1.1% – What’s Next?

by · The Markets Daily

RTX Co. (NYSE:RTX – Get Free Report) fell 1.1% during mid-day trading on Tuesday . The stock traded as low as $123.73 and last traded at $124.08. 805,072 shares traded hands during trading, a decline of 88% from the average session volume of 6,712,189 shares. The stock had previously closed at $125.43.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RTX. Susquehanna lifted their target price on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Barclays boosted their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upped their target price 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. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus price target of $177.27.

Read Our Latest Report on RTX

RTX Trading Down 0.7 %

The firm has a market capitalization of $161.04 billion, a price-to-earnings ratio of 47.65, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The firm’s 50 day moving average is $122.07 and its 200 day moving average is $111.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX – Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 earnings per share. Equities analysts forecast that RTX Co. will post 5.57 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared 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 is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.08%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Institutional Investors Weigh In On RTX

Several hedge funds have recently made changes to their positions in the company. Briaud Financial Planning Inc increased its stake in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX during the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the 2nd quarter worth $41,000. Finally, Stephens Consulting LLC boosted its holdings in shares of RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

About RTX

(Get Free Report)

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.

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