RTX (NYSE:RTX) Trading Down 0.4% – Time to Sell?

RTX Co. (NYSE:RTX) traded down 0.4% on Thursday . The stock traded as low as $120.58 and last traded at $121.11. 452,143 shares changed hands during trading, a decline of 93% from the average session volume of 6,696,838 shares. The stock had previously closed at $121.59.

Analysts Set New Price Targets

Several research analysts have commented on RTX shares. Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. 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 report on Wednesday, October 23rd. Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a fifty day moving average of $122.13 and a 200-day moving average of $112.48. The firm has a market cap of $159.83 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.09 and a beta of 0.82.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid 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 dividend yield of 2.10%. RTX’s payout ratio is presently 72.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Briaud Financial Planning Inc increased its stake in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the second quarter valued at $32,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX during the 3rd quarter valued at $41,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in RTX in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors 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.