RTX (NYSE:RTX) Shares Up 0.6%

RTX Co. (NYSE:RTX)’s share price rose 0.6% during trading on Wednesday . The company traded as high as $122.32 and last traded at $121.68. Approximately 1,137,768 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 7,102,226 shares. The stock had previously closed at $120.99.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Royal Bank of Canada upped their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, TD Cowen lifted their price target on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $153.47.

RTX Trading Down 0.8 %

The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a market cap of $157.79 billion, a P/E ratio of 46.64, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The firm’s 50-day simple moving average is $111.78 and its 200 day simple moving average is $104.03.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. RTX’s revenue was up 7.7% on a year-over-year basis. As a group, analysts expect that RTX Co. 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 the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last 90 days. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently modified their holdings of RTX. Elgethun Capital Management increased its holdings in RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares during the period. Alpha Omega Wealth Management LLC increased its stake in 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 last quarter. Motco raised its holdings in shares of RTX by 7.2% in the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after acquiring an additional 99 shares in the last quarter. D Orazio & Associates Inc. boosted its position in shares of RTX by 4.0% during the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after acquiring an additional 99 shares during the last quarter. Finally, Enterprise Bank & Trust Co grew its holdings in shares of RTX by 2.9% during the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after purchasing an additional 100 shares in the last quarter. 86.50% of the stock is currently owned by 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.