RTX (NYSE:RTX) Stock Price Down 1.1% - What's Next?

RTX Co. (NYSE:RTX - Get Free Report)'s share price fell 1.1% on Tuesday . The company traded as low as $123.73 and last traded at $124.08. 805,072 shares were traded during trading, a decline of 88% from the average session volume of 6,712,189 shares. The stock had previously closed at $125.43.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RTX. TD Cowen raised RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their target price on RTX from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Melius Research increased their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a report on Wednesday, October 23rd. Finally, Bank of America raised RTX from a "neutral" rating to a "buy" rating and increased their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $177.27.

RTX Price Performance

The company has a 50-day moving average of $121.98 and a 200-day moving average of $111.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market cap of $163.44 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (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 business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the company 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 predict that RTX Co. will post 5.57 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, November 15th. RTX's dividend payout ratio (DPR) is presently 98.82%.

Insider Transactions at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Elgethun Capital Management raised its position in RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company's stock worth $233,000 after acquiring an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its position in RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company's stock worth $62,000 after acquiring an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC raised its position in RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company's stock worth $291,000 after acquiring an additional 86 shares in the last quarter. Canal Capital Management LLC raised its position in RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company's stock worth $515,000 after acquiring an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC raised its position in RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company's stock worth $1,518,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

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.