RTX (NYSE:RTX) Shares Down 1.3%

RTX Co. (NYSE:RTX)’s share price fell 1.3% during trading on Tuesday . The stock traded as low as $121.50 and last traded at $121.69. 705,293 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 7,108,888 shares. The stock had previously closed at $123.34.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RTX. Wells Fargo & Company decreased 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. TD Cowen increased their price objective on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Susquehanna increased their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $153.47.

RTX Stock Down 1.2 %

The business has a fifty day moving average of $111.40 and a 200 day moving average of $103.93. The company has a market capitalization of $159.05 billion, a PE ratio of 47.06, a PEG ratio of 2.17 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 announced its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. Equities research analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

Insider Activity

In other news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new stake in shares of RTX during the 2nd quarter worth about $35,285,000. Brown Financial Advisors acquired a new position in RTX during the second quarter worth approximately $715,000. Strategic Investment Solutions Inc. IL acquired a new position in RTX during the second quarter worth approximately $132,000. Souders Financial Advisors increased its position in RTX by 1.5% during the second quarter. Souders Financial Advisors now owns 37,184 shares of the company’s stock worth $3,733,000 after buying an additional 537 shares during the period. Finally, KPP Advisory Services LLC increased its position in RTX by 7.2% during the second quarter. KPP Advisory Services LLC now owns 5,203 shares of the company’s stock worth $522,000 after buying an additional 351 shares during the period. Institutional investors and hedge funds 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.