RTX (NYSE:RTX) Trading Down 1.1% – What’s Next?

RTX Co. (NYSE:RTX) fell 1.1% during trading on Thursday . The stock traded as low as $130.56 and last traded at $131.71. 1,097,759 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 5,598,266 shares. The stock had previously closed at $133.15.

Analyst Ratings Changes

Several brokerages have weighed in on RTX. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. UBS Group raised RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Four investment 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 company’s stock. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

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 company has a market cap of $156.78 billion, a PE ratio of 33.08, a P/E/G ratio of 2.11 and a beta of 0.58. The firm has a 50 day moving average of $129.05 and a two-hundred day moving average of $123.35.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 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%. Research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.15%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction 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 directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 over the last 90 days. 0.15% of the stock is currently owned by insiders.

Institutional Trading of RTX

A number of institutional investors have recently made changes to their positions in the stock. 10Elms LLP bought a new stake in RTX in the 4th quarter worth approximately $29,000. Fairway Wealth LLC purchased a new position in shares of RTX in the 4th quarter worth $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC purchased a new stake in RTX during the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors 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.