RTX (NYSE:RTX) Trading Down 0% – Should You Sell?

RTX Co. (NYSE:RTX)’s stock price dropped 0% during mid-day trading on Tuesday . The stock traded as low as $131.74 and last traded at $131.99. Approximately 480,438 shares traded hands during trading, a decline of 91% from the average daily volume of 5,385,774 shares. The stock had previously closed at $132.05.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RTX. Morgan Stanley raised their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

The stock’s 50-day moving average is $126.43 and its two-hundred day moving average is $122.39. The stock has a market cap of $180.86 billion, a PE ratio of 38.16, a PEG ratio of 2.11 and a beta of 0.78. 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 posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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%. On average, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.86%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Buying and Selling

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 over the last 90 days. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On RTX

Several large investors have recently bought and sold shares of RTX. Avior Wealth Management LLC lifted its holdings in shares of RTX by 1.4% in the 3rd quarter. Avior Wealth Management LLC now owns 8,134 shares of the company’s stock valued at $980,000 after buying an additional 114 shares during the period. Prospera Private Wealth LLC raised its position in shares of RTX by 197.5% during the 3rd quarter. Prospera Private Wealth LLC now owns 7,601 shares of the company’s stock worth $921,000 after purchasing an additional 5,046 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in RTX by 20.7% during the third quarter. Segall Bryant & Hamill LLC now owns 118,758 shares of the company’s stock worth $14,389,000 after buying an additional 20,385 shares in the last quarter. Sachetta LLC lifted its position in shares of RTX by 34.3% in the third quarter. Sachetta LLC now owns 13,647 shares of the company’s stock valued at $1,653,000 after acquiring an additional 3,485 shares in the last quarter. Finally, Northwest Bancshares Inc. acquired a new position in RTX in the 3rd quarter valued at about $902,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.