RTX (NYSE:RTX) Trading Down 1.9% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Argus raised RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Trading Down 0.9 %

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 firm’s fifty day moving average is $123.56 and its 200-day moving average is $121.65. The firm has a market cap of $171.15 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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 dividend yield of 1.96%. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the 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 owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred 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 directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Hedge funds and other institutional investors have recently made changes to their positions in the business. CX Institutional increased its holdings in RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares in the last quarter. National Pension Service grew its holdings in RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after buying an additional 375,781 shares in the last quarter. LRI Investments LLC raised its position in RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares during the last quarter. Napa Wealth Management bought a new position in RTX during the 3rd quarter valued at $1,307,000. Finally, Czech National Bank boosted its holdings in RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the last quarter. 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.