RTX (NYSE:RTX) Shares Down 1.5% – Here’s Why

RTX Co. (NYSE:RTX)’s stock price dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as $123.53 and last traded at $124.07. Approximately 1,812,397 shares changed hands during trading, a decline of 73% from the average daily volume of 6,761,166 shares. The stock had previously closed at $125.90.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Susquehanna increased their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Melius Research raised their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus price target of $168.56.

RTX Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $169.22 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.21 and a beta of 0.82. The business’s fifty day simple moving average is $121.46 and its 200 day simple moving average is $111.02.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the business posted $1.25 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts forecast that RTX Co. will post 5.5 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 72.00%.

Insiders Place Their Bets

In other news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

Several institutional investors have recently made changes to their positions in RTX. Briaud Financial Planning Inc grew its position in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX during the second quarter valued at approximately $41,000. Finally, ORG Wealth Partners LLC bought a new stake in RTX during the third quarter worth $50,000. Institutional investors 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.