RTX (NYSE:RTX) Shares Down 1.5% – Here’s What Happened

RTX Co. (NYSE:RTX) traded down 1.5% during mid-day trading on Tuesday . The company traded as low as $123.53 and last traded at $124.07. 1,812,397 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 6,761,166 shares. The stock had previously closed at $125.90.

Analysts Set New Price Targets

RTX has been the subject of several research reports. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Citigroup increased their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $162.50.

RTX Stock Performance

The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a market cap of $167.11 billion, a price-to-earnings ratio of 49.04, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The firm has a 50-day simple moving average of $121.09 and a 200 day simple moving average of $110.74.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 EPS. On average, sell-side analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 98.82%.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Briaud Financial Planning Inc grew its stake in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the second quarter valued at about $41,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of RTX in the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds 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.