RTX (NYSE:RTX) Shares Down 0.4% – Time to Sell?

RTX Co. (NYSE:RTX)’s share price dropped 0.4% during mid-day trading on Monday . The company traded as low as $125.19 and last traded at $125.47. Approximately 755,364 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 6,766,655 shares. The stock had previously closed at $125.92.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research reports. Robert W. Baird increased their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and raised their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $162.50.

RTX Stock Down 0.3 %

The stock has a market capitalization of $166.88 billion, a P/E ratio of 48.95, a P/E/G ratio of 2.24 and a beta of 0.82. The firm’s fifty day moving average is $120.91 and its 200-day moving average is $110.46. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 98.82%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last ninety days. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Hedge funds have recently bought and sold shares of the business. Briaud Financial Planning Inc grew its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in RTX during the second quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX during the 2nd quarter worth about $41,000. Finally, Alaska Permanent Fund Corp bought a new position in shares of RTX during the 1st quarter worth about $42,000. 86.50% of the stock is owned by 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.