RTX Co. (NYSE:RTX) Sees Significant Decline in Short Interest

RTX Co. (NYSE:RTX) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 13,850,000 shares, a decline of 24.0% from the August 15th total of 18,230,000 shares. Based on an average trading volume of 6,140,000 shares, the short-interest ratio is currently 2.3 days. Approximately 1.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. TD Cowen increased their price target on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $157.31.

Insider Activity

In related news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

A number of large investors have recently added to or reduced their stakes in the company. RFG Advisory LLC grew its holdings in shares of RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after buying an additional 19,779 shares in the last quarter. TCW Group Inc. bought a new position in shares of RTX during the 4th quarter worth approximately $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in RTX in the fourth quarter valued at $672,000. Gryphon Financial Partners LLC bought a new stake in RTX during the fourth quarter worth about $474,000. Finally, Edge Capital Group LLC grew its stake in RTX by 37.7% in the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after purchasing an additional 51,735 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.8 %

Shares of NYSE:RTX opened at $119.12 on Monday. RTX has a 52 week low of $68.56 and a 52 week high of $123.70. The company has a market capitalization of $158.46 billion, a PE ratio of 46.71, a PEG ratio of 2.11 and a beta of 0.82. 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 50 day moving average price of $114.11 and a two-hundred day moving average price of $105.47.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. Analysts forecast that RTX will post 5.45 earnings per share for the current year.

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.