RTX (NYSE:RTX) Stock Price Down 0.9% – What’s Next?

RTX Co. (NYSE:RTX) dropped 0.9% during mid-day trading on Thursday . The company traded as low as $123.19 and last traded at $124.23. Approximately 698,993 shares changed hands during trading, a decline of 85% from the average daily volume of 4,703,208 shares. The stock had previously closed at $125.41.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of analyst reports. Bank of America lifted their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. UBS Group lifted their price objective on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Price Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $164.16 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The stock has a 50 day simple moving average of $121.49 and a two-hundred day simple moving average of $120.89.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CX Institutional raised its position in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares during the last quarter. LRI Investments LLC raised its holdings in shares of RTX by 6.5% during the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares during the last quarter. Napa Wealth Management purchased a new position in shares of RTX in the third quarter valued at approximately $1,307,000. Czech National Bank boosted its stake in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the last quarter. Finally, Archer Investment Corp increased its position in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after purchasing an additional 4,151 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.