RTX Co. (NYSE:RTX) Sees Large Drop in Short Interest

RTX Co. (NYSE:RTX) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 8,710,000 shares, a decrease of 18.1% from the August 15th total of 10,640,000 shares. Based on an average daily trading volume, of 6,470,000 shares, the short-interest ratio is currently 1.3 days. Currently, 0.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RTX. JPMorgan Chase & Co. reduced their price target on shares of RTX from $100.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays cut shares of RTX from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $100.00 to $75.00 in a research note on Tuesday, September 12th. Melius cut shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a research note on Monday, September 11th. TD Cowen dropped their price objective on shares of RTX from $109.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 12th. Finally, Argus cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.88.

Hedge Funds Weigh In On RTX

Several institutional investors have recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its position in RTX by 105,363.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 70,115,189 shares of the company’s stock valued at $6,868,484,000 after acquiring an additional 70,048,706 shares in the last quarter. Morgan Stanley grew its position in shares of RTX by 11.3% during the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after buying an additional 3,104,282 shares in the last quarter. Geode Capital Management LLC grew its position in shares of RTX by 2.7% during the first quarter. Geode Capital Management LLC now owns 26,237,984 shares of the company’s stock worth $2,563,118,000 after buying an additional 696,262 shares in the last quarter. Norges Bank acquired a new position in shares of RTX during the fourth quarter worth about $1,580,608,000. Finally, Moneta Group Investment Advisors LLC grew its position in shares of RTX by 87,932.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after buying an additional 13,598,794 shares in the last quarter. 79.06% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 0.4 %

Shares of RTX opened at $75.80 on Friday. The firm has a market cap of $110.33 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97. RTX has a 12-month low of $73.62 and a 12-month high of $108.84. The company’s 50-day moving average price is $87.19 and its 200 day moving average price is $94.05. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44.

RTX (NYSE:RTX) last released its earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.11. The company had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $17.68 billion. RTX had a return on equity of 9.98% and a net margin of 7.88%. RTX’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. On average, sell-side analysts forecast that RTX will post 4.99 earnings per share for the current year.

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.