RTX (NYSE:RTX) Trading Down 0.6% – Here’s Why

RTX Co. (NYSE:RTX)’s share price was down 0.6% during mid-day trading on Friday . The company traded as low as $132.38 and last traded at $132.68. Approximately 533,862 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 5,325,671 shares. The stock had previously closed at $133.43.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RTX shares. Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Wells Fargo & Company lifted their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Down 1.3 %

The company has a market cap of $175.81 billion, a price-to-earnings ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78. The firm has a 50-day moving average price of $128.59 and a 200 day moving average price of $123.03. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last posted its quarterly earnings data 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%. Sell-side analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 44,415 shares in the company, 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 ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

Several large investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in RTX in the third quarter valued at approximately $405,000. Freedom Investment Management Inc. boosted its holdings in shares of RTX by 37.7% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,508 shares of the company’s stock valued at $425,000 after acquiring an additional 960 shares in the last quarter. Public Sector Pension Investment Board grew its position in RTX by 13.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 58,013 shares of the company’s stock worth $7,029,000 after acquiring an additional 6,900 shares during the last quarter. Vinva Investment Management Ltd increased its holdings in RTX by 24.9% in the 3rd quarter. Vinva Investment Management Ltd now owns 10,273 shares of the company’s stock worth $1,237,000 after purchasing an additional 2,048 shares in the last quarter. Finally, Martingale Asset Management L P boosted its stake in shares of RTX by 2,059.9% during the third quarter. Martingale Asset Management L P now owns 95,229 shares of the company’s stock valued at $11,538,000 after purchasing an additional 90,820 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

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.