RTX (NYSE:RTX) Trading Down 0.3% – Here’s Why

RTX Co. (NYSE:RTX) shares traded down 0.3% on Thursday . The stock traded as low as $120.58 and last traded at $121.52. 652,944 shares traded hands during trading, a decline of 90% from the average session volume of 6,695,309 shares. The stock had previously closed at $121.86.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RTX shares. Susquehanna raised their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Citigroup boosted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Melius Research upped their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Down 0.5 %

The firm has a market cap of $161.47 billion, a price-to-earnings ratio of 47.65, a P/E/G ratio of 2.17 and a beta of 0.82. The firm’s 50 day moving average price is $122.07 and its two-hundred day moving average price is $111.82. 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 announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the business posted $1.25 EPS. The company’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.57 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, 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 dividend on an annualized basis and a yield of 2.08%. RTX’s payout ratio is currently 98.82%.

Institutional Trading of RTX

Several hedge funds have recently modified their holdings of RTX. Capital Research Global Investors boosted its holdings in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares in the last quarter. Capital International Investors increased its stake in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC boosted its position in RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares in the last quarter. Legal & General Group Plc grew its holdings in RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after buying an additional 408,551 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

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.