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

RTX (NYSE:RTX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also recently commented on RTX. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. UBS Group lifted their price target on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley increased their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.73.

RTX Price Performance

RTX traded down $3.10 during trading on Wednesday, hitting $125.25. 5,177,392 shares of the stock traded hands, compared to its average volume of 4,659,668. The business has a 50 day moving average price of $118.79 and a 200 day moving average price of $118.93. The company has a market cap of $166.71 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 1.99 and a beta of 0.81. RTX has a twelve month low of $88.90 and a twelve month high of $132.43. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. Equities research analysts forecast that RTX will post 5.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RTX. Geode Capital Management LLC lifted its holdings in RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares during the period. Fisher Asset Management LLC raised its stake in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after buying an additional 852,183 shares during the period. FMR LLC lifted its position in shares of RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after buying an additional 490,109 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of RTX by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after acquiring an additional 140,697 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in RTX by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock valued at $342,886,000 after purchasing an additional 25,407 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.