RTX (NYSE:RTX) Shares Down 0.9% – Here’s Why

RTX Co. (NYSE:RTX)’s stock price fell 0.9% on Thursday . The stock traded as low as $123.19 and last traded at $124.23. 698,993 shares changed hands during trading, a decline of 85% from the average session volume of 4,703,208 shares. The stock had previously closed at $125.41.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RTX shares. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

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 firm has a market cap of $165.67 billion, a P/E ratio of 35.02, a P/E/G ratio of 2.09 and a beta of 0.82. The company has a fifty day moving average of $121.20 and a 200-day moving average of $120.80.

RTX (NYSE:RTX) last released 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 net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.03%. RTX’s dividend payout ratio is currently 70.99%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the 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 completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. bought a new position in RTX in the 3rd quarter worth approximately $29,000. 10Elms LLP bought a new position in shares of RTX in the fourth quarter worth $29,000. Fairway Wealth LLC purchased a new position in shares of RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC bought a new position in RTX in the 4th quarter worth about $34,000. 86.50% of the stock is currently owned by institutional investors.

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.