RTX (NYSE:RTX) Trading Down 0.1% – Here’s What Happened

RTX Co. (NYSE:RTX) was down 0.1% during mid-day trading on Friday . The stock traded as low as $123.91 and last traded at $124.37. Approximately 787,401 shares traded hands during trading, a decline of 83% from the average daily volume of 4,659,733 shares. The stock had previously closed at $124.48.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RTX. Bank of America increased their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada increased their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Susquehanna upped their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Six 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Performance

The company has a market capitalization of $163.90 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average is $121.38 and its two-hundred day moving average is $120.83.

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 research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.05%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently made changes to their positions in RTX. Norges Bank bought a new position in RTX in the fourth quarter worth approximately $1,745,644,000. T. Rowe Price Investment Management Inc. raised its holdings in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Amundi lifted its position in RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the period. Finally, Capital Wealth Planning LLC purchased a new stake in RTX in the fourth quarter worth about $216,340,000. Hedge funds and other 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.