RTX (NYSE:RTX) Rating Lowered to Hold at StockNews.com

RTX (NYSE:RTX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other analysts have also issued research reports about the company. Wells Fargo & Company cut their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Susquehanna lifted their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Robert W. Baird lifted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $153.47.

RTX Stock Up 0.9 %

Shares of NYSE RTX opened at $123.36 on Thursday. RTX has a 52-week low of $68.56 and a 52-week high of $123.70. The business’s 50 day moving average is $110.19 and its two-hundred day moving average is $103.20. The firm has a market cap of $164.01 billion, a price-to-earnings ratio of 48.38, a PEG ratio of 2.09 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. Research analysts predict that RTX will post 5.45 EPS for the current year.

Insider Buying and Selling at RTX

In related news, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the transaction, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Elgethun Capital Management boosted its holdings in RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after buying an additional 85 shares in the last quarter. Alpha Omega Wealth Management LLC grew its holdings in shares of RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the period. Motco raised its holdings in RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after purchasing an additional 99 shares during the last quarter. D Orazio & Associates Inc. boosted its position in RTX by 4.0% during the second quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock worth $261,000 after purchasing an additional 99 shares in the last quarter. Finally, Enterprise Bank & Trust Co grew its holdings in 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 last quarter. Institutional investors and hedge funds 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.