RTX (NYSE:RTX) Stock Price Down 0.5% – Time to Sell?

RTX Co. (NYSE:RTX)’s share price traded down 0.5% during mid-day trading on Wednesday . The stock traded as low as $121.88 and last traded at $122.13. 694,076 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 6,704,343 shares. The stock had previously closed at $122.79.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RTX shares. Citigroup raised their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Susquehanna lifted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm’s fifty day moving average is $121.98 and its two-hundred day moving average is $111.75. The company has a market cap of $162.42 billion, a P/E ratio of 47.89, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. As a group, analysts anticipate that RTX Co. will post 5.57 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is currently 98.82%.

Hedge Funds Weigh In On RTX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Briaud Financial Planning Inc boosted its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $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 approximately $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the 2nd quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the 2nd quarter worth approximately $41,000. Finally, Stephens Consulting LLC raised its holdings in shares of RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

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.