RTX (NYSE:RTX) Stock Price Down 0.3% – Here’s Why

Shares of RTX Co. (NYSE:RTX) traded down 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 changed hands during trading, a decline of 90% from the average session volume of 6,683,656 shares. The stock had previously closed at $120.99.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group upped their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and upped their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Price Performance

The stock has a 50 day moving average of $122.13 and a 200-day moving average of $111.89. 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 company has a market cap of $158.88 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. 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 2.11%. RTX’s dividend payout ratio is presently 72.00%.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new stake in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX during the 2nd quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX in the 2nd quarter valued at $41,000. Finally, Western Pacific Wealth Management LP purchased a new stake in RTX during the third quarter worth $41,000. 86.50% of the stock is 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.