RTX (NYSE:RTX) Trading Down 0.1% - Here's Why

Shares of RTX Co. (NYSE:RTX - Get Free Report) traded down 0.1% on Wednesday . The company traded as low as $131.21 and last traded at $132.77. 521,233 shares changed hands during trading, a decline of 91% from the average session volume of 5,609,036 shares. The stock had previously closed at $132.85.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTX. Susquehanna upped their price target on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Vertical Research upgraded RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. Citigroup upgraded RTX from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Argus upgraded RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $166.40.

RTX Stock Performance

The company has a 50 day simple moving average of $129.13 and a 200 day simple moving average of $123.31. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $176.33 billion, a price-to-earnings ratio of 37.40, a P/E/G ratio of 2.11 and a beta of 0.78.

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RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. As a group, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. 10Elms LLP acquired a new position in RTX in the fourth quarter valued at $29,000. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management boosted its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Finally, Modus Advisors LLC bought a new stake in RTX in the fourth quarter valued at $39,000. Institutional investors and hedge funds 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.