RTX Co. (NYSE:RTX) Receives Average Recommendation of “Hold” from Analysts

RTX Co. (NYSE:RTX) has received an average rating of “Hold” from the fourteen analysts that are covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $177.27.

A number of brokerages have weighed in on RTX. UBS Group upped their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Melius Research raised their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Royal Bank of Canada upped their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company reduced their price objective 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.

RTX Stock Down 0.4 %

Shares of RTX opened at $118.94 on Friday. The stock’s 50-day moving average price is $122.13 and its 200-day moving average price is $113.81. 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 company has a market capitalization of $158.31 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82. RTX has a 52 week low of $78.00 and a 52 week high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the company earned $1.25 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that RTX will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Hedge Funds Weigh In On RTX

A number of institutional investors have recently bought and sold shares of RTX. Capital Research Global Investors raised its position in shares of RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares during the period. Capital International Investors increased its stake in RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after acquiring an additional 3,161,165 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of RTX by 2.0% during the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other 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.