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RTX Corp (NYSE:RTX) saw a decrease in its share price on Friday, September 29, 2023, closing the trading session at $72.00, down 1.21% from the previous day. This marks a continuation of the stock’s recent trend, as it has been trading in the red over the past five sessions. According to InvestingPro data, the stock has fallen 25.33% over the last six months and 25.87% over the previous three months.
The company’s shares have experienced significant fluctuations in recent months. The stock has fallen 26.31% over the last six months and 26.38% over the previous three months. Despite these decreases, RTX Corp’s shares are still up 1.36% from their 52-week low of $71.02. According to InvestingPro, the company’s stock is currently trading at 66.39% of its 52-week high.
The company’s market capitalization stands at $104.80B, with an average intraday trading volume of 11.6 million shares over the past ten days and an average trade volume of 7.85 million shares over the past three months. InvestingPro data shows that the company has a market cap of $104.55B and an average daily volume of 7.98M shares.
Analysts have given RTX Corp an Overweight consensus recommendation, translating to a mean rating of 1.88. Out of the 25 analysts who have reviewed this stock, one has given it a Sell rating, ten recommend Holding the stock, three suggest it is Overweight, and ten recommend a Buy rating for it. This aligns with InvestingPro’s tip that analysts predict the company will be profitable this year.
In terms of future performance, analysts are predicting growth for RTX Corp in fiscal year 2023. Revenue is expected to shrink by -0.80% this quarter before jumping by 1.60% in the following quarter. For the current quarter, revenue is forecasted to be $18.62 billion as predicted by 12 analysts. InvestingPro data shows that the company’s revenue growth for the last twelve months was 8.1%, and it’s expected to grow 12.27% in the second quarter of fiscal year 2023.
On the dividends front, RTX Corp has been following a trend of increasing dividends in recent years, with a forward dividend ratio of 2.30 and a dividend yield indicating at 3.20 percent. InvestingPro data confirms this, showing a dividend yield of 3.28% and a dividend growth of 7.27% in the last twelve months. This aligns with an InvestingPro tip that RTX Corp has maintained dividend payments for 53 consecutive years.
Institutional holders control 80.92% of RTX Corp’s shares, with Vanguard Group Inc being the largest shareholder. As of June 29, 2023, the company held over 125.3 million shares, a total value of $12.27 billion.
Despite the recent decrease in share price, Deutsche Bank has raised the price target for RTX Corp to “a Sell” as of September 29, 2023. The consensus price target of analysts on Wall Street is $90.41, indicating a potential increase of 20.36% to the stock’s current value. InvestingPro’s fair value for the company is a slightly higher $100.3.
The company is expected to release its next quarterly earnings between October 23 and October 27, which will provide further insights into its financial performance and future prospects. According to InvestingPro, the next earnings date is set for October 24, 2023.
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