RTX (NYSE:RTX) Shares Down 0.7% – Here’s What Happened

RTX Co. (NYSE:RTX)’s share price was down 0.7% during trading on Monday . The stock traded as low as $112.27 and last traded at $116.57. Approximately 2,136,669 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 5,527,061 shares. The stock had previously closed at $117.45.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley raised their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Susquehanna lifted their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.07.

RTX Stock Up 6.6 %

The company has a market cap of $171.48 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 2.11 and a beta of 0.58. The firm’s fifty day simple moving average is $128.62 and its 200 day simple moving average is $123.49. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at $3,771,880.44. This represents a 39.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On RTX

Several hedge funds have recently bought and sold shares of the company. CX Institutional increased its position in shares of RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after buying an additional 11,706 shares in the last quarter. National Pension Service increased its holdings in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after acquiring an additional 375,781 shares in the last quarter. Czech National Bank lifted its holdings in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after purchasing an additional 17,608 shares in the last quarter. Archer Investment Corp increased its stake in shares of RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after purchasing an additional 4,151 shares in the last quarter. Finally, Optas LLC lifted its stake in RTX by 114.5% in the 4th quarter. Optas LLC now owns 7,062 shares of the company’s stock valued at $817,000 after buying an additional 3,770 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other 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.