RTX (NYSE:RTX) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

RTX Corporation (NYSE:RTX) passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $195.56 and traded as low as $190.10. RTX shares last traded at $191.9670, with a volume of 7,141,412 shares changing hands.

Trending Headlines about RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon won a phase-one DARPA contract to develop optical signal processing technology aimed at helping military operators detect and respond to threats faster. It adds to RTX’s defense technology pipeline, though the initial award is an early-stage contract. Article: RTX’s Raytheon wins DARPA contract
• Positive Sentiment: A commentary pointed to longer-term demand for RTX’s Patriot systems, radars, and interceptors, alongside manufacturing investments to expand capacity. It cited a $340 billion backlog and raised full-year free-cash-flow guidance of $9 billion to $9.2 billion; these support the outlook but depend on execution and are not new orders announced today. Article: America’s Military Rebuild Starts With a Manufacturing Problem
• Negative Sentiment: The election outcome has put a major defense-spending proposal in doubt, raising concern that budget delays or reduced spending could constrain future contract growth for defense contractors, including RTX. Article: Defense Stocks Sank as Democrats Took Congress

Analyst Ratings Changes

A number of brokerages have weighed in on RTX. The Goldman Sachs Group lifted their price target on shares of RTX from $195.00 to $206.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of RTX from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 22nd. Robert W. Baird set a $240.00 target price on shares of RTX in a research note on Friday, July 24th. UBS Group lifted their target price on shares of RTX from $209.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of RTX from $215.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.24.

RTX Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. The company’s 50-day simple moving average is $193.91 and its 200-day simple moving average is $195.56. The company has a market cap of $259.05 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 2.21 and a beta of 0.30.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.48. The business had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.11 billion. RTX had a net margin of 8.75% and a return on equity of 14.89%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 earnings per share. On average, equities research analysts anticipate that RTX Corporation will post 7.68 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. RTX’s dividend payout ratio is presently 47.40%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 9,071 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the completion of the transaction, the executive vice president directly owned 16,930 shares of the company’s stock, valued at approximately $3,414,781. This represents a 34.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 13,655 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total transaction of $3,057,627.60. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,952,161.28. This trade represents a 50.88% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

Several hedge funds have recently modified their holdings of RTX. Fifth Third Bancorp bought a new stake in RTX during the third quarter worth approximately $208,093,000. King Luther Capital Management Corp increased its holdings in shares of RTX by 12.1% in the third quarter. King Luther Capital Management Corp now owns 668,112 shares of the company’s stock valued at $124,035,000 after buying an additional 72,294 shares in the last quarter. Banyan Capital Management Inc. bought a new position in shares of RTX in the third quarter valued at $391,000. CFM Wealth Partners LLC acquired a new stake in shares of RTX during the 3rd quarter valued at $825,000. Finally, Bingham Private Wealth LLC lifted its position in shares of RTX by 3.7% during the 3rd quarter. Bingham Private Wealth LLC now owns 4,330 shares of the company’s stock valued at $804,000 after acquiring an additional 155 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

About RTX

RTX Corporation (NYSE: RTX) is an aerospace and defense company that develops and manufactures products and systems for commercial aviation, business aviation, military aircraft and government customers. Its portfolio includes aircraft engines, avionics, flight-control systems, cabin interiors, communications equipment, air and missile defense systems, precision weapons, radars and advanced sensors.

The company operates through three principal businesses: Collins Aerospace, which supplies aerospace systems and components; Pratt & Whitney, which designs and produces aircraft engines and related services; and Raytheon, which provides defense and intelligence technologies.