RTX (NYSE:RTX) Cut to Hold at StockNews.com

RTX (NYSE:RTX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Susquehanna lifted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Performance

RTX stock opened at $125.95 on Friday. The company has a 50 day moving average price of $120.70 and a 200-day moving average price of $120.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The company has a market capitalization of $167.78 billion, a PE ratio of 35.48, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities analysts forecast that RTX will post 6.11 earnings per share for the current year.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Creative Planning raised its position in shares of RTX by 1.2% in the third quarter. Creative Planning now owns 490,632 shares of the company’s stock worth $59,445,000 after acquiring an additional 5,967 shares during the period. Vontobel Holding Ltd. raised its position in shares of RTX by 96.3% in the third quarter. Vontobel Holding Ltd. now owns 29,996 shares of the company’s stock worth $3,634,000 after acquiring an additional 14,712 shares during the period. One Wealth Advisors LLC acquired a new position in shares of RTX in the third quarter worth about $203,000. Good Life Advisors LLC raised its position in shares of RTX by 9.9% in the third quarter. Good Life Advisors LLC now owns 7,043 shares of the company’s stock worth $853,000 after acquiring an additional 635 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of RTX by 0.8% in the third quarter. Global Retirement Partners LLC now owns 20,592 shares of the company’s stock worth $2,495,000 after acquiring an additional 161 shares during the period. 86.50% of the stock is currently 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.