RTX (NYSE:RTX) Trading Down 0.3% – Here’s What Happened

RTX Co. (NYSE:RTX) fell 0.3% during mid-day trading on Friday . The stock traded as low as $120.36 and last traded at $120.65. 686,814 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 6,683,656 shares. The stock had previously closed at $120.99.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank of Canada raised their price objective on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Susquehanna boosted their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Citigroup boosted their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Trading Down 1.9 %

The company has a market cap of $158.06 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.14 and a beta of 0.82. The business has a fifty day simple moving average of $122.13 and a 200 day simple moving average of $112.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released 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. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. Analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. RTX’s dividend payout ratio is currently 72.00%.

Institutional Trading of RTX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Elgethun Capital Management increased its position in RTX by 3.8% in 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 during the period. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the period. Blackston Financial Advisory Group LLC lifted its position in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares during the last quarter. Canal Capital Management LLC boosted its stake in RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC grew its position 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 purchasing an additional 89 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.