RTX (NYSE:RTX) Stock Price Down 0.9% - Here's What Happened

RTX Co. (NYSE:RTX - Get Free Report)'s share price fell 0.9% on Thursday . The stock traded as low as $123.19 and last traded at $124.23. 698,993 shares were traded during mid-day trading, a decline of 85% from the average session volume of 4,703,208 shares. The stock had previously closed at $125.41.

Analyst Ratings Changes

Several research firms have weighed in on RTX. Royal Bank of Canada increased their price target on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Vertical Research raised shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. UBS Group increased their price target on shares of RTX from $128.00 to $142.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Finally, Argus raised shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $163.07.

RTX Price Performance

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 firm has a market cap of $164.16 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. The company's 50-day moving average is $121.49 and its 200-day moving average is $120.89.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. 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 announced 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 is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX's dividend payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company's stock.

Institutional Trading of RTX

A number of hedge funds have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. boosted its position in RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after buying an additional 79 shares in the last quarter. Fusion Capital LLC raised its stake in shares of RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after acquiring an additional 80 shares during the last quarter. McDonough Capital Management Inc raised its stake in shares of RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after acquiring an additional 80 shares during the last quarter. New England Professional Planning Group Inc. raised its stake in shares of RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after acquiring an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC raised its stake in shares of RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds 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.