RTX Co. (NYSE:RTX) Receives Average Recommendation of “Hold” from Brokerages

RTX Co. (NYSE:RTX) has been given a consensus recommendation of “Hold” by the sixteen brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $157.31.

Several equities analysts recently commented on RTX shares. JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Wells Fargo & Company lowered their target price 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. Royal Bank of Canada raised their price target on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Melius Research raised their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th.

Insiders Place Their Bets

In other news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of RTX

A number of large investors have recently made changes to their positions in RTX. Capital Research Global Investors increased its holdings in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors increased its stake in shares of RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC raised its holdings in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the period. Legal & General Group Plc grew its holdings in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. increased its position in RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after buying an additional 408,551 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

RTX stock opened at $120.90 on Thursday. The stock has a market cap of $160.83 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 2.12 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $116.88 and a 200 day simple moving average of $107.00. RTX has a 52 week low of $68.56 and a 52 week high of $123.70.

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