RTX (NYSE:RTX) Downgraded by StockNews.com to “Hold”

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

RTX has been the subject of several other research reports. Susquehanna boosted their price target on RTX from $119.00 to $140.00 and gave the stock a positive rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a sector perform rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their target price 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. Wells Fargo & Company cut their target price on shares of RTX from $491.00 to $467.00 and set an equal weight rating for the company in a research report on Wednesday, July 24th. Finally, Citigroup boosted their target price on shares of RTX from $95.00 to $110.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $153.47.

RTX Trading Up 0.7 %

RTX stock opened at $117.65 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $106.99 and its two-hundred day simple moving average is $100.94. RTX has a 12 month low of $68.56 and a 12 month high of $118.30. The company has a market capitalization of $156.50 billion, a price-to-earnings ratio of 46.14, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts predict that RTX will post 5.44 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 98.82%.

Insider Buying and Selling at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 over the last quarter. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors grew its holdings in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after acquiring an additional 17,351,313 shares in the last quarter. Capital International Investors increased its holdings in RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after buying an additional 11,163,222 shares during the period. Norges Bank acquired a new position in RTX in the 4th quarter worth approximately $690,154,000. Massachusetts Financial Services Co. MA increased its holdings in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the period. Finally, Van ECK Associates Corp increased its holdings in RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after buying an additional 2,294,908 shares during the period. 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.