RTX (NYSE:RTX) Trading Down 0.6% on Analyst Downgrade

RTX Co. (NYSE:RTX - Get Free Report) traded down 0.6% during trading on Friday 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 $125.00 and last traded at $126.27. 627,373 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 5,505,950 shares. The stock had previously closed at $127.07.

Several other research firms have also issued reports on RTX. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Morgan Stanley boosted their price objective on RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Argus upgraded RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and lifted their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Four equities 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.73.

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Insider Activity at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company'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 owns 59,556 shares of the company's stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The stock was 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 directly owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. increased its stake in RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after acquiring an additional 79 shares during the last quarter. Fusion Capital LLC increased its position in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after purchasing an additional 80 shares during the last quarter. McDonough Capital Management Inc raised its stake in RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. grew its stake in RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock worth $253,000 after buying an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC increased its holdings in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock worth $2,047,000 after buying an additional 81 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market cap of $171.21 billion, a PE ratio of 36.12, a PEG ratio of 2.11 and a beta of 0.58. The company's 50-day moving average price is $128.56 and its two-hundred day moving average price is $123.59.

RTX (NYSE:RTX - Get Free Report) last issued 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 return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

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

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.