RTX (NYSE:RTX) Trading Down 1.4% – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) dropped 1.4% during trading on Friday . The stock traded as low as $132.98 and last traded at $132.63. Approximately 1,571,701 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 5,355,879 shares. The stock had previously closed at $134.47.

Wall Street Analyst Weigh In

RTX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna upped their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and upped their target price for the company from $136.00 to $160.00 in a research note on Wednesday. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Stock Down 1.6 %

The company has a market cap of $176.70 billion, a P/E ratio of 37.28, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average price is $127.15 and its 200-day moving average price is $122.55.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.90%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred 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 directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Several hedge funds and other institutional investors have recently made changes to their positions in RTX. 10Elms LLP bought a new position in shares of RTX in the fourth quarter valued at $29,000. Fairway Wealth LLC bought a new position in RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management boosted its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC bought a new position in RTX during the fourth quarter worth $34,000. Finally, Modus Advisors LLC bought a new position in RTX during the fourth quarter worth $39,000. 86.50% of the stock is owned by 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.