RTX (NYSE:RTX) Stock Price Down 0.6% – Here’s What Happened

RTX Co. (NYSE:RTX) was down 0.6% on Friday . The company traded as low as $132.38 and last traded at $132.68. Approximately 533,862 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 5,325,671 shares. The stock had previously closed at $133.43.

Analysts Set New Price Targets

Several research analysts have commented on RTX shares. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $153.00 in a 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. Royal Bank of Canada upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Bank of America lifted their target price on shares of 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 issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Down 1.3 %

The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a 50-day simple moving average of $128.59 and a two-hundred day simple moving average of $123.03. The firm has a market cap of $175.81 billion, a PE ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. Analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

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

Insider Transactions at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares in the company, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in RTX during the 4th quarter valued at approximately $1,745,644,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Amundi raised its position in shares of RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Finally, Capital Wealth Planning LLC purchased a new stake in RTX during the 4th quarter valued at about $216,340,000. 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.