RTX (NYSE:RTX) Shares Down 0.9%

RTX Co. (NYSE:RTX)’s stock price fell 0.9% on Thursday . The stock traded as low as $119.83 and last traded at $120.01. 667,584 shares were traded during trading, a decline of 91% from the average session volume of 7,084,166 shares. The stock had previously closed at $121.11.

Analysts Set New Price Targets

Several research firms have recently issued reports on RTX. Robert W. Baird upped their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Melius Research increased their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company cut their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $153.47.

RTX Stock Performance

The business has a 50 day moving average of $111.40 and a 200-day moving average of $103.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market capitalization of $158.77 billion, a P/E ratio of 47.06, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. On average, sell-side analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of large investors have recently added to or reduced their stakes in the company. RFG Advisory LLC raised its holdings in shares of RTX by 96.1% during the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares in the last quarter. TCW Group Inc. bought a new stake in shares of RTX in the 4th quarter worth approximately $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new stake in shares of RTX in the 4th quarter valued at $672,000. Gryphon Financial Partners LLC bought a new position in shares of RTX during the 4th quarter valued at $474,000. Finally, Edge Capital Group LLC raised its position in RTX by 37.7% in the 4th quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock worth $15,896,000 after purchasing an additional 51,735 shares during the period. 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.