RTX Corp (NYSE: RTX): A Stock Worth Thinking About Today

In the last trading session, 9.5 million shares of the RTX Corp (NYSE:RTX) were traded, and its beta was 0.95. Most recently the company’s share price was $97.76, and it changed around $0.23 or 0.24% from the last close, which brings the market valuation of the company to $129.99B. RTX currently trades at a discount to its 52-week high of $104.91, offering almost -7.31% off that amount. The share price’s 52-week low was $68.56, which indicates that the current value has risen by an impressive 29.87% since then. We note from RTX Corp’s average daily trading volume that its 10-day average is 7.45 million shares, with the 3-month average coming to 8.07 million.

RTX Corp (NYSE:RTX) trade information

Instantly RTX has showed a green trend with a performance of 0.24% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 16.19% year-to-date, but still up 2.32% over the last five days. On the other hand, RTX Corp (NYSE:RTX) is 9.02% up in the 30-day period. We can see from the shorts that 40.44 million shares have been sold at a short interest cover period of 4.64 day(s).

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The consensus price target as assigned by Wall Street analysts is $103.07, which translates to bulls needing to increase their stock price by 5.15% from its current value. Analyst projections state that RTX is forecast to be at a low of $82 and a high of $120.

RTX Corp (RTX) estimates and forecasts

RTX Corp share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 35.78 percent over the past six months and at a 6.52% annual growth rate that is well below the industry average of 14.40%. The year-over-year growth rate is expected to be 14.40%, up from the previous year.

Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $18.37 billion in revenue for the current quarter. 16 analysts expect RTX Corp to make $19.28 billion in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 18.40%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -19.30%. RTX Corp earnings are expected to increase by 6.59% in 2024, but the outlook is positive 11.29% per year for the next five years.

RTX Dividends

RTX Corp’s next quarterly earnings report is expected to be released around April 23 and April 29. The annual dividend yield of the stock is 2.41 percent and its annual dividend per share was 2.36. It is important to note, however, that the 2.41% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

RTX Corp (NYSE:RTX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.09% of RTX Corp shares, and 87.25% of them are in the hands of institutional investors. The stock currently has a share float of 87.32%. RTX Corp stock is held by 2,803 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 8.61% of the shares, which is about 125.3 million shares worth $12.27 billion.

State Street Corporation, with 8.54% or 124.35 million shares worth $12.18 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 45.58 million shares worth $4.47 billion, making up 3.13% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 34.79 million shares worth around $3.41 billion, which represents about 2.39% of the total shares outstanding.