RTX (NYSE:RTX) Shares Down 1.9% – Here’s Why

RTX Co. (NYSE:RTX)’s stock price traded down 1.9% during trading on Thursday . The stock traded as low as $126.61 and last traded at $127.13. 1,231,479 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 5,602,509 shares. The stock had previously closed at $129.64.

Analyst Ratings Changes

RTX has been the topic of a number of research analyst reports. Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $142.00 to $147.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. increased their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Price Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $171.15 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The business’s 50-day moving average price is $123.56 and its 200 day moving average price is $121.65.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.96%. RTX’s payout ratio is presently 70.99%.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the third quarter valued at about $29,000. 10Elms LLP bought a new stake in shares of RTX in the 4th quarter valued at about $29,000. Fairway Wealth LLC purchased a new stake in RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% during the 4th 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 last quarter. Finally, Greenline Partners LLC purchased a new position in RTX in the 4th quarter worth approximately $34,000. 86.50% of the stock is owned by hedge funds and other 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.