RTX Co. (NYSE:RTX – Get Free Report) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 89,750,000 shares, a drop of 19.5% from the October 31st total of 111,450,000 shares. Approximately 6.2% of the shares of the company are sold short. Based on an average daily trading volume, of 10,710,000 shares, the days-to-cover ratio is presently 8.4 days.
Hedge Funds Weigh In On RTX
Several institutional investors have recently modified their holdings of the business. CRA Financial Services LLC raised its position in RTX by 3.2% in the 2nd quarter. CRA Financial Services LLC now owns 3,385 shares of the company’s stock valued at $332,000 after buying an additional 105 shares during the last quarter. Sterling Investment Counsel LLC raised its position in RTX by 2.7% in the 2nd quarter. Sterling Investment Counsel LLC now owns 4,014 shares of the company’s stock valued at $393,000 after buying an additional 107 shares during the last quarter. Capital Advisory Group Advisory Services LLC increased its position in shares of RTX by 0.4% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 29,567 shares of the company’s stock worth $2,896,000 after purchasing an additional 110 shares during the last quarter. NTV Asset Management LLC increased its position in shares of RTX by 0.6% during the 1st quarter. NTV Asset Management LLC now owns 18,071 shares of the company’s stock worth $1,770,000 after purchasing an additional 112 shares during the last quarter. Finally, Cascade Investment Group Inc. increased its position in shares of RTX by 2.1% during the 2nd quarter. Cascade Investment Group Inc. now owns 5,359 shares of the company’s stock worth $525,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 79.06% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Melius downgraded shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price target for the company. in a report on Monday, September 11th. Wells Fargo & Company dropped their price objective on RTX from $100.00 to $78.00 and set an “equal weight” rating for the company in a research note on Monday, September 18th. UBS Group lowered RTX from a “buy” rating to a “neutral” rating and lowered their target price for the company from $110.00 to $80.00 in a research note on Tuesday, October 10th. TD Cowen lowered their price objective on RTX from $109.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday, September 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $82.00 price objective on shares of RTX in a research report on Monday, September 25th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.21.
RTX Trading Up 1.0 %
RTX traded up $0.84 during midday trading on Friday, reaching $82.32. 5,487,381 shares of the company were exchanged, compared to its average volume of 8,353,005. RTX has a one year low of $68.56 and a one year high of $108.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.03. The stock has a market capitalization of $118.37 billion, a P/E ratio of 38.29, a PEG ratio of 1.74 and a beta of 0.93. The stock’s 50-day simple moving average is $77.21 and its 200 day simple moving average is $85.75.
RTX (NYSE:RTX – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.06. RTX had a return on equity of 10.05% and a net margin of 4.76%. The business had revenue of $19 billion for the quarter, compared to analysts’ expectations of $18.60 billion. During the same quarter in the previous year, the business posted $1.21 EPS. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, analysts forecast that RTX will post 5 earnings per share for the current fiscal year.
RTX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, November 16th. RTX’s dividend payout ratio (DPR) is presently 109.77%.
About RTX
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.