RTX (NYSE:RTX) Shares Down 0.8% – Time to Sell?

RTX Co. (NYSE:RTX) shares traded down 0.8% during trading on Thursday . The company traded as low as $125.19 and last traded at $126.21. 656,167 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 6,745,125 shares. The stock had previously closed at $127.21.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RTX. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Melius Research lifted their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. The Goldman Sachs Group upped their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $168.56.

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 0.62. The stock has a market capitalization of $167.13 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a 50 day simple moving average of $121.46 and a 200-day simple moving average of $111.02.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the company’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 in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On RTX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kavar Capital Partners Group LLC boosted its position in shares of RTX by 4.4% in the third quarter. Kavar Capital Partners Group LLC now owns 2,219 shares of the company’s stock valued at $269,000 after acquiring an additional 93 shares during the period. TCV Trust & Wealth Management Inc. purchased a new stake in RTX during the third quarter valued at about $1,689,000. Clear Harbor Asset Management LLC lifted its position in RTX by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 86,214 shares of the company’s stock worth $10,446,000 after buying an additional 1,046 shares during the last quarter. Smith Salley Wealth Management boosted its stake in shares of RTX by 3.0% in the 3rd quarter. Smith Salley Wealth Management now owns 192,210 shares of the company’s stock valued at $23,288,000 after purchasing an additional 5,553 shares in the last quarter. Finally, MCF Advisors LLC boosted its holdings in RTX by 2.1% during the 3rd quarter. MCF Advisors LLC now owns 9,966 shares of the company’s stock valued at $1,207,000 after acquiring an additional 205 shares during the period. Institutional investors 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.