RTX (NYSE:RTX) Stock Price Down 2.5% – Here’s Why

RTX Co. (NYSE:RTX) was down 2.5% during trading on Friday . The stock traded as low as $122.62 and last traded at $122.72. Approximately 2,482,570 shares traded hands during trading, a decline of 46% from the average daily volume of 4,617,400 shares. The stock had previously closed at $125.84.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RTX shares. Citigroup raised 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. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Bank of America raised 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. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Performance

The company has a fifty day moving average of $120.79 and a two-hundred day moving average of $120.65. 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 firm has a market capitalization of $163.42 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data 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%. As a group, equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.05%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Hedge funds and other institutional investors have recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the 3rd quarter valued at $29,000. Fairway Wealth LLC bought a new stake in RTX during the 4th quarter worth $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. Millstone Evans Group LLC bought a new stake in RTX during the 4th quarter worth $39,000. Finally, Western Pacific Wealth Management LP bought a new stake in RTX during the 3rd quarter worth $41,000. 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.