Wall Street Zen Downgrades RTX (NYSE:RTX) to Hold

RTX (NYSE:RTX - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

RTX has been the topic of several other reports. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada lowered their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. UBS Group lifted their price target on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Susquehanna lowered their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $159.82.

RTX Trading Up 0.6%

RTX opened at $146.75 on Friday. The stock has a market capitalization of $196.05 billion, a P/E ratio of 43.04, a P/E/G ratio of 2.64 and a beta of 0.63. RTX has a 12 month low of $99.07 and a 12 month high of $149.26. The firm's fifty day simple moving average is $133.43 and its 200 day simple moving average is $127.42. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, research analysts anticipate that RTX will post 6.11 EPS for the current fiscal year.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On RTX

Several large investors have recently modified their holdings of the company. CBIZ Investment Advisory Services LLC increased its position in shares of RTX by 23.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 857 shares of the company's stock worth $114,000 after buying an additional 161 shares during the period. Hodges Capital Management Inc. acquired a new stake in RTX in the first quarter worth $1,288,000. Modern Wealth Management LLC grew its holdings in RTX by 4.7% in the first quarter. Modern Wealth Management LLC now owns 43,378 shares of the company's stock worth $5,746,000 after purchasing an additional 1,966 shares during the period. Jones Financial Companies Lllp grew its holdings in RTX by 30.5% in the first quarter. Jones Financial Companies Lllp now owns 677,436 shares of the company's stock worth $89,350,000 after purchasing an additional 158,378 shares during the period. Finally, Silicon Valley Capital Partners grew its holdings in RTX by 967.0% in the first quarter. Silicon Valley Capital Partners now owns 4,108 shares of the company's stock worth $541,000 after purchasing an additional 3,723 shares during the period. 86.50% of the stock is currently 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.

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