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

RTX (NYSE:RTX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other research firms also recently weighed in on RTX. Wells Fargo & Company decreased their target price 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. The Goldman Sachs Group upped their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $153.47.

RTX Price Performance

Shares of NYSE RTX opened at $123.36 on Thursday. The company has a fifty day moving average price of $110.19 and a 200 day moving average price of $103.20. RTX has a 1-year low of $68.56 and a 1-year high of $123.70. The firm has a market cap of $164.01 billion, a PE ratio of 48.38, a PEG ratio of 2.09 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period last year, the company earned $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts predict that RTX will post 5.45 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at approximately $32,000. Fairman Group LLC bought a new stake in shares of RTX during the fourth quarter worth $38,000. Finally, Beaird Harris Wealth Management LLC lifted 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 during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.