StockNews.com Downgrades RTX (NYSE:RTX) to Hold

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

A number of other research firms have also recently issued reports on RTX. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Wells Fargo & Company increased their target price on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. increased their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.07.

RTX Trading Up 3.2 %

RTX opened at $129.14 on Wednesday. RTX has a twelve month low of $88.90 and a twelve month high of $132.43. The company has a fifty day moving average of $118.97 and a 200-day moving average of $119.00. The stock has a market cap of $171.89 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after buying an additional 2,094,834 shares during the period. International Assets Investment Management LLC boosted its position in shares of RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of RTX by 190.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after purchasing an additional 993,273 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

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.