RTX Co. (NYSE:RTX) Short Interest Down 24.0% in August

RTX Co. (NYSE:RTX) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 13,850,000 shares, a decrease of 24.0% from the August 15th total of 18,230,000 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 6,140,000 shares, the days-to-cover ratio is presently 2.3 days.

Analysts Set New Price Targets

A number of brokerages recently commented on RTX. JPMorgan Chase & Co. lifted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company cut their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Melius Research lifted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $157.31.

RTX Stock Performance

RTX stock traded down $0.98 during mid-day trading on Friday, hitting $119.12. 4,708,012 shares of the company’s stock traded hands, compared to its average volume of 4,436,173. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $123.70. The stock has a market cap of $158.46 billion, a price-to-earnings ratio of 46.71, a P/E/G ratio of 2.11 and a beta of 0.82. The firm has a 50 day simple moving average of $114.11 and a two-hundred day simple moving average of $105.47. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last issued 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 company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that RTX will post 5.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

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