RTX (NYSE:RTX) Shares Down 0.4% – Here’s Why

RTX Co. (NYSE:RTX) shares traded down 0.4% on Monday . The stock traded as low as $118.18 and last traded at $118.29. 805,141 shares changed hands during trading, a decline of 88% from the average session volume of 6,677,411 shares. The stock had previously closed at $118.75.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Morgan Stanley lifted their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their target price on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Stock Down 0.3 %

The company has a fifty day simple moving average of $122.13 and a 200-day simple moving average of $112.09. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a market cap of $157.54 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. On average, equities analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Institutional Investors Weigh In On RTX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Briaud Financial Planning Inc grew its position in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in RTX during the 2nd quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the second quarter valued at approximately $32,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX in the third quarter worth $41,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX during the second quarter worth $41,000. 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.