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

RTX Co. (NYSE:RTX)’s share price was down 0.4% during mid-day trading on Thursday . The company traded as low as $120.58 and last traded at $121.11. Approximately 452,143 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 6,696,838 shares. The stock had previously closed at $121.59.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RTX shares. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and increased their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Down 1.2 %

The firm has a market cap of $159.83 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.09 and a beta of 0.82. The firm’s fifty day moving average is $122.13 and its 200 day moving average is $112.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.10%. RTX’s payout ratio is presently 72.00%.

Hedge Funds Weigh In On RTX

Hedge funds have recently bought and sold shares of the business. 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 acquired a new position in RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the 2nd quarter valued at $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX during the 2nd quarter worth $41,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of RTX in the third quarter worth $41,000. 86.50% of the stock is owned by institutional investors.

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.