RTX (NYSE:RTX) Shares Down 0.2% – Here’s What Happened

RTX Co. (NYSE:RTX)’s share price fell 0.2% during trading on Friday . The stock traded as low as $126.26 and last traded at $128.02. 815,613 shares were traded during mid-day trading, a decline of 85% from the average session volume of 5,602,768 shares. The stock had previously closed at $128.28.

Analysts Set New Price Targets

Several brokerages have commented on RTX. Royal Bank of Canada raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Susquehanna raised their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Down 0.2 %

The firm has a 50 day moving average of $123.56 and a 200-day moving average of $121.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $170.61 billion, a P/E ratio of 36.06, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 dividend on an annualized basis and a yield of 1.97%. RTX’s payout ratio is currently 70.99%.

Insider Buying and Selling

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred 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 owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several hedge funds have recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new stake in RTX during the third quarter worth $29,000. 10Elms LLP acquired a new position in shares of RTX during the 4th quarter worth about $29,000. Fairway Wealth LLC bought a new stake in shares of RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management lifted its stake in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Finally, Greenline Partners LLC bought a new position in RTX during the fourth quarter worth about $34,000. 86.50% of the stock is owned by institutional investors.

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.