RTX (NYSE:RTX) Stock Rating Lowered by StockNews.com

RTX (NYSE:RTX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other research firms have also recently commented on RTX. Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday. Barclays boosted their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Melius Research boosted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday. Bank of America boosted their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Susquehanna boosted their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $148.69.

RTX Trading Up 0.4 %

Shares of NYSE RTX traded up $0.48 during trading on Friday, reaching $113.95. The stock had a trading volume of 7,460,494 shares, compared to its average volume of 7,454,204. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $115.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The business’s 50-day moving average price is $104.47 and its 200-day moving average price is $98.22. The company has a market cap of $151.50 billion, a P/E ratio of 44.69, a PEG ratio of 1.87 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that RTX will post 5.4 EPS for the current fiscal year.

Insider Activity

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

A number of large investors have recently modified their holdings of RTX. Planned Solutions Inc. purchased a new position in shares of RTX during the 4th quarter worth approximately $30,000. Ritholtz Wealth Management grew its holdings in shares of RTX by 35.8% in the 4th quarter. Ritholtz Wealth Management now owns 18,463 shares of the company’s stock worth $1,553,000 after acquiring an additional 4,872 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of RTX in the 4th quarter worth approximately $53,000. Relyea Zuckerberg Hanson LLC acquired a new stake in shares of RTX in the 4th quarter worth approximately $400,000. Finally, Blue Trust Inc. grew its holdings in shares of RTX by 0.7% in the 4th quarter. Blue Trust Inc. now owns 18,959 shares of the company’s stock worth $1,595,000 after acquiring an additional 138 shares during the period. 86.50% of the stock is owned by hedge funds and other 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.