Citigroup Issues Pessimistic Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX - Free Report) had its price target reduced by Citigroup from $153.00 to $148.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on RTX. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and raised their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Vertical Research raised shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Argus raised shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.73.

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RTX Stock Performance

RTX stock traded up $1.17 during mid-day trading on Thursday, hitting $128.24. 3,654,021 shares of the company's stock traded hands, compared to its average volume of 5,504,953. RTX has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The stock has a market cap of $171.21 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.11 and a beta of 0.58. The firm has a 50 day simple moving average of $128.56 and a two-hundred day simple moving average of $123.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 EPS 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, research analysts expect that RTX will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. RTX's payout ratio is currently 70.99%.

Insider Buying and Selling

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares of the company's stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last three months. 0.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Piscataqua Savings Bank grew its stake in shares of RTX by 0.7% in the first quarter. Piscataqua Savings Bank now owns 13,583 shares of the company's stock worth $1,799,000 after purchasing an additional 100 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in RTX by 0.7% during the 1st quarter. Gateway Investment Advisers LLC now owns 554,196 shares of the company's stock worth $73,409,000 after buying an additional 3,841 shares during the period. Radnor Capital Management LLC grew its position in shares of RTX by 3.8% in the 1st quarter. Radnor Capital Management LLC now owns 20,585 shares of the company's stock valued at $2,727,000 after buying an additional 758 shares during the last quarter. Impact Capital Partners LLC increased its stake in shares of RTX by 12.1% in the first quarter. Impact Capital Partners LLC now owns 3,225 shares of the company's stock valued at $427,000 after buying an additional 348 shares during the period. Finally, Tower Wealth Partners Inc. raised its position in shares of RTX by 31.9% during the first quarter. Tower Wealth Partners Inc. now owns 2,338 shares of the company's stock worth $310,000 after acquiring an additional 566 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.