RTX (NYSE:RTX) Shares Down 0.9% – Time to Sell?

RTX Co. (NYSE:RTX) was down 0.9% on Thursday . The company traded as low as $123.19 and last traded at $124.23. Approximately 698,993 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,703,208 shares. The stock had previously closed at $125.41.

Analyst Ratings Changes

Several analysts have commented on the company. Morgan Stanley increased their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, UBS Group boosted their price objective on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Price Performance

The firm’s fifty day simple moving average is $121.49 and its two-hundred day simple moving average is $120.89. 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 firm has a market cap of $164.16 billion, a PE ratio of 34.71, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. As a group, research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s payout ratio is 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of hedge funds have recently made changes to their positions in RTX. Vanguard Group Inc. boosted its stake in RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after buying an additional 1,252,448 shares during the period. Geode Capital Management LLC grew its stake in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after buying an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after buying an additional 576,214 shares during the period. Franklin Resources Inc. lifted its stake in shares of RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after acquiring an additional 603,159 shares during the last quarter. Finally, Norges Bank purchased a new position in RTX during the 4th quarter valued at $1,745,644,000. 86.50% of the stock is currently 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.