RTX (NYSE:RTX) Shares Down 0.5% – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RTX shares. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. UBS Group boosted their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley lifted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” 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 target price on the stock in a research note on Tuesday, July 30th. Finally, Citigroup raised their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $177.27.

RTX Stock Down 1.7 %

The firm has a fifty day moving average price of $122.13 and a 200 day moving average price of $111.89. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market cap of $158.38 billion, a P/E ratio of 34.47, a PEG ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX) last announced its earnings results 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. 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 period in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

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

Hedge Funds Weigh In On RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pegasus Partners Ltd. raised its position in RTX by 20.7% in the 3rd quarter. Pegasus Partners Ltd. now owns 4,475 shares of the company’s stock valued at $542,000 after buying an additional 766 shares during the last quarter. Executive Wealth Management LLC acquired a new stake in shares of RTX during the 3rd quarter worth about $371,000. Windward Capital Management Co. CA lifted its position in RTX by 1.4% during the third quarter. Windward Capital Management Co. CA now owns 147,472 shares of the company’s stock worth $17,868,000 after acquiring an additional 2,076 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of RTX during the third quarter worth approximately $4,255,000. Finally, Equitable Trust Co. grew its holdings in RTX by 3.9% in the 3rd quarter. Equitable Trust Co. now owns 23,457 shares of the company’s stock valued at $2,842,000 after buying an additional 879 shares in the last quarter. 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.