RTX (NYSE:RTX) Shares Down 0.3% – Here’s Why

RTX Co. (NYSE:RTX) shares were down 0.3% on Wednesday . The stock traded as low as $135.19 and last traded at $135.31. Approximately 692,815 shares changed hands during trading, a decline of 87% from the average daily volume of 5,344,317 shares. The stock had previously closed at $135.66.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Morgan Stanley lifted their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Trading Down 0.8 %

The firm has a market cap of $179.60 billion, a PE ratio of 37.87, a P/E/G ratio of 2.11 and a beta of 0.78. The firm has a 50 day moving average of $127.81 and a 200 day moving average of $122.79. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its quarterly 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 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On RTX

Several large investors have recently added to or reduced their stakes in the business. CX Institutional grew its holdings in shares of RTX by 21.9% during the fourth 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 lifted its position in RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after purchasing an additional 375,781 shares during the last quarter. LRI Investments LLC grew its stake in RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after buying an additional 4,732 shares in the last quarter. Czech National Bank increased its holdings in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after buying an additional 17,608 shares during the last quarter. Finally, Archer Investment Corp raised its position in shares of RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after buying an additional 4,151 shares in the last quarter. 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.