RTX (NYSE:RTX) Trading Down 0.5% After Analyst Downgrade

RTX Co. (NYSE:RTX - Get Free Report) fell 0.5% during trading on Thursday after Citigroup lowered their price target on the stock from $153.00 to $148.00. Citigroup currently has a buy rating on the stock. RTX traded as low as $126.70 and last traded at $127.77. 1,212,485 shares traded hands during trading, a decline of 78% from the average session volume of 5,504,766 shares. The stock had previously closed at $128.43.

A number of other research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft raised RTX from a "hold" rating to a "buy" rating and increased their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Vertical Research upgraded RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley increased their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Finally, Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.73.

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Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares of the company's stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 in the last quarter. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of RTX

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

RTX Price Performance

The company has a market capitalization of $171.21 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a fifty day moving average price of $128.56 and a 200 day moving average price of $123.59.

RTX (NYSE:RTX - Get Free Report) last issued 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%. On average, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.97%. RTX's dividend payout ratio is presently 70.99%.

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.