RTX (NYSE:RTX) Downgraded by StockNews.com

StockNews.com downgraded shares of RTX (NYSE:RTX) from a buy rating to a hold rating in a report published on Thursday morning.

RTX has been the topic of several other research reports. TD Cowen boosted their price objective on RTX from $115.00 to $142.00 and gave the company a buy rating in a report on Friday, July 26th. Melius Research boosted their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. The Goldman Sachs Group upped their price target on RTX from $94.00 to $104.00 and gave the stock a neutral rating in a report on Monday, July 29th. Susquehanna upped their price objective on RTX from $119.00 to $140.00 and gave the stock a positive rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped 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. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $153.47.

RTX Stock Performance

NYSE RTX opened at $123.34 on Thursday. The stock’s fifty day moving average is $110.19 and its two-hundred day moving average is $103.37. The firm has a market capitalization of $164.07 billion, a P/E ratio of 48.37, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $123.70.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share 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 for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that RTX will post 5.45 earnings per share for the current year.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shane G. Eddy sold 6,741 shares of the firm’s 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 valued at $20,861,880 in the last three months. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

Several hedge funds have recently bought and sold shares of RTX. Elgethun Capital Management grew its position in shares of RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares during the period. Alpha Omega Wealth Management LLC grew its position in shares of RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the period. Motco grew its position in shares of RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares during the period. D Orazio & Associates Inc. grew its position in shares of RTX by 4.0% in the second quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after purchasing an additional 99 shares during the period. Finally, Enterprise Bank & Trust Co grew its position in shares of RTX by 2.9% in the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock valued at $356,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.