RTX (NYSE:RTX) Shares Down 0.2%

Shares of RTX Co. (NYSE:RTX) dropped 0.2% during mid-day trading on Monday . The stock traded as low as $118.79 and last traded at $118.87. Approximately 789,248 shares traded hands during trading, a decline of 89% from the average daily volume of 6,984,249 shares. The stock had previously closed at $119.12.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research reports. TD Cowen raised their price objective on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target 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. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. The Goldman Sachs Group lifted their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company dropped their price target 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, RTX has an average rating of “Hold” and an average price target of $157.31.

RTX Trading Down 0.6 %

The business’s 50 day simple moving average is $114.84 and its two-hundred day simple moving average is $105.89. The stock has a market cap of $157.01 billion, a P/E ratio of 46.29, a PEG ratio of 2.10 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. As a group, analysts expect that RTX Co. will post 5.45 EPS for the current year.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Briaud Financial Planning Inc lifted its stake in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the 2nd quarter worth approximately $32,000. Fairman Group LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $38,000. Finally, Beaird Harris Wealth Management LLC increased its stake in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. 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.