RTX (NYSE:RTX) Shares Down 0.3% – What’s Next?

Shares of RTX Co. (NYSE:RTX) dropped 0.3% during mid-day trading on Wednesday . The company traded as low as $135.19 and last traded at $135.31. Approximately 692,815 shares were traded during trading, a decline of 87% from the average daily volume of 5,344,317 shares. The stock had previously closed at $135.66.

Analyst Ratings Changes

RTX has been the topic of a number of analyst reports. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Morgan Stanley lifted their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $166.40.

RTX Trading Down 1.3 %

The company has a market cap of $175.81 billion, a PE ratio of 37.09, 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 business has a 50 day simple moving average of $128.38 and a two-hundred day simple moving average of $122.94.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $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. Insiders sold 79,831 shares of company stock worth $10,309,302 over the last three months. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On RTX

A number of institutional investors have recently added to or reduced their stakes in the company. 10Elms LLP purchased a new stake in shares of RTX during the fourth quarter worth about $29,000. Fairway Wealth LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management boosted 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 valued at $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new position in RTX during the 4th quarter worth $34,000. Finally, Modus Advisors LLC acquired a new position in RTX in the fourth quarter worth about $39,000. 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.