Royal Bank of Canada downgraded shares of RTX (NYSE:RTX – Free Report) from an outperform rating to a sector perform rating in a research note released on Tuesday, MarketBeat reports. The brokerage currently has $82.00 price target on the stock, down from their prior price target of $105.00.
A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of RTX from a buy rating to a hold rating in a report on Monday. Melius cut shares of RTX from an overweight rating to a neutral rating and set a $92.00 price target on the stock. in a report on Monday. Citigroup dropped their target price on shares of RTX from $113.50 to $95.00 and set a neutral rating on the stock in a report on Thursday, July 27th. Bank of America downgraded shares of RTX from a buy rating to a neutral rating and cut their target price for the stock from $120.00 to $95.00 in a research report on Thursday, July 27th. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $95.00 target price (down previously from $110.00) on shares of RTX in a research report on Wednesday, July 26th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has an average rating of Hold and an average target price of $99.67.
Get Our Latest Analysis on RTX
RTX Price Performance
RTX (NYSE:RTX – Get Free Report) last announced its earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. RTX had a net margin of 7.88% and a return on equity of 9.98%. The business had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $17.68 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that RTX will post 5 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. IAG Wealth Partners LLC purchased a new stake in RTX in the 1st quarter worth $27,000. Quarry LP purchased a new stake in RTX in the 1st quarter worth $28,000. Pin Oak Investment Advisors Inc. lifted its stake in RTX by 60.5% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 353 shares of the company’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. Rebalance LLC purchased a new stake in RTX in the 4th quarter worth $36,000. Finally, VitalStone Financial LLC lifted its stake in RTX by 136.5% in the 2nd quarter. VitalStone Financial LLC now owns 369 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.
RTX Company Profile
RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.
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