RTX (NYSE:RTX) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of RTX (NYSE:RTX) from a buy rating to a hold rating in a research note released on Friday morning.

Several other equities analysts have also recently issued reports on RTX. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Susquehanna increased their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. UBS Group increased their price target on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Performance

RTX stock opened at $122.68 on Friday. The stock has a market capitalization of $163.42 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX has a 12-month low of $88.90 and a 12-month high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $120.79 and its 200 day simple moving average is $120.63.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts forecast that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.05%. RTX’s dividend payout ratio is presently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several large investors have recently made changes to their positions in the company. Bienville Capital Management LLC increased its holdings in shares of RTX by 22.5% in the fourth quarter. Bienville Capital Management LLC now owns 5,721 shares of the company’s stock worth $662,000 after purchasing an additional 1,052 shares during the last quarter. Gallagher Fiduciary Advisors LLC grew its position in RTX by 10.1% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 3,274 shares of the company’s stock worth $379,000 after acquiring an additional 299 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its position in RTX by 41.1% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 6,726 shares of the company’s stock worth $778,000 after acquiring an additional 1,960 shares in the last quarter. Pennington Partners & CO. LLC purchased a new position in RTX in the fourth quarter worth about $292,000. Finally, South Plains Financial Inc. purchased a new position in RTX in the fourth quarter worth about $362,000. 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.