RTX (NYSE:RTX) Trading Down 0.3% – Here’s Why

RTX Co. (NYSE:RTX) was down 0.3% during mid-day trading on Friday . The company traded as low as $127.70 and last traded at $128.89. Approximately 5,208,962 shares changed hands during trading, a decline of 5% from the average daily volume of 5,478,735 shares. The stock had previously closed at $129.25.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RTX shares. Wells Fargo & Company increased their price target on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.27.

RTX Stock Down 0.3 %

The stock has a market cap of $172.07 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company’s fifty day moving average price is $128.59 and its 200-day moving average price is $123.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 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%. Equities analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.96%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. increased its stake in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after acquiring an additional 79 shares during the period. Fusion Capital LLC grew its position in RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares during the period. McDonough Capital Management Inc raised its stake in shares of RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after buying an additional 80 shares during the last quarter. New England Professional Planning Group Inc. lifted its holdings in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after buying an additional 81 shares during the period. Finally, Pointe Capital Management LLC boosted its stake in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.