RTX (NYSE:RTX) Stock Price Down 2.5% – What’s Next?

RTX Co. (NYSE:RTX) shares fell 2.5% during trading on Monday . The stock traded as low as $121.38 and last traded at $122.68. 7,714,193 shares changed hands during trading, an increase of 64% from the average session volume of 4,715,731 shares. The stock had previously closed at $125.84.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Argus raised RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Down 2.5 %

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 company has a market capitalization of $163.42 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company’s fifty day moving average is $120.79 and its 200-day moving average is $120.68.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate 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, analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.05%. RTX’s payout ratio is 70.99%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new position in RTX during the third quarter valued at $29,000. Fairway Wealth LLC purchased a new stake in RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of RTX during the fourth quarter worth $39,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX in the 4th quarter valued at about $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

About RTX

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.