RTX (NYSE:RTX) Trading Down 0.2% – Time to Sell?

Shares of RTX Co. (NYSE:RTX) traded down 0.2% during mid-day trading on Thursday . The company traded as low as $133.90 and last traded at $135.12. 885,463 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 5,366,973 shares. The stock had previously closed at $135.32.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $142.00 to $147.00 in a report on Monday, February 24th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Bank of America increased their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, 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 report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Price Performance

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 cap of $178.93 billion, a price-to-earnings ratio of 37.75, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The business’s 50-day simple moving average is $126.43 and its two-hundred day simple moving average is $122.39.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.88%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

A number of hedge funds have recently bought and sold shares of RTX. Norges Bank bought a new position in RTX during the fourth quarter worth $1,745,644,000. T. Rowe Price Investment Management Inc. increased its stake in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Amundi increased its stake in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Finally, Capital Wealth Planning LLC bought a new stake in RTX in the fourth quarter valued at $216,340,000. Institutional investors own 86.50% of the company’s stock.

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.