RTX (NYSE:RTX) Stock Price Down 0.4% – What’s Next?

RTX Co. (NYSE:RTX) shares were down 0.4% during mid-day trading on Thursday . The company traded as low as $120.58 and last traded at $121.11. Approximately 452,143 shares traded hands during trading, a decline of 93% from the average daily volume of 6,696,838 shares. The stock had previously closed at $121.59.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Trading Up 2.9 %

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’s 50 day moving average price is $122.08 and its two-hundred day moving average price is $112.69. The firm has a market cap of $164.45 billion, a PE ratio of 35.30, a P/E/G ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last posted 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. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the company posted $1.25 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Institutional Trading of RTX

Several institutional investors and hedge funds have recently made changes to their positions in the business. German American Bancorp Inc. grew its stake in RTX by 8.3% in the third quarter. German American Bancorp Inc. now owns 29,342 shares of the company’s stock worth $3,555,000 after purchasing an additional 2,255 shares in the last quarter. Trustmark National Bank Trust Department increased its stake in shares of RTX by 10.4% during the third quarter. Trustmark National Bank Trust Department now owns 5,922 shares of the company’s stock valued at $718,000 after buying an additional 557 shares during the period. Cypress Capital Group raised its holdings in shares of RTX by 1.3% in the third quarter. Cypress Capital Group now owns 38,396 shares of the company’s stock valued at $4,652,000 after acquiring an additional 489 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of RTX by 32.7% in the third quarter. Intech Investment Management LLC now owns 50,497 shares of the company’s stock valued at $6,118,000 after acquiring an additional 12,445 shares in the last quarter. Finally, Cornerstone Advisors LLC lifted its stake in RTX by 2.7% in the third quarter. Cornerstone Advisors LLC now owns 90,700 shares of the company’s stock worth $10,989,000 after acquiring an additional 2,400 shares during the period. 86.50% of the stock is currently owned by institutional investors.

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.