RTX (NYSE:RTX) Stock Price Down 0.6% - What's Next?

Shares of RTX Co. (NYSE:RTX - Get Free Report) dropped 0.6% on Tuesday . The stock traded as low as $127.15 and last traded at $127.80. Approximately 822,435 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 5,595,201 shares. The stock had previously closed at $128.52.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. 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 report on Tuesday, January 21st. StockNews.com downgraded shares of RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, UBS Group raised RTX from a "neutral" rating to a "buy" rating and boosted their target price for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $163.40.

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RTX Trading Down 0.3 %

The firm has a 50 day simple moving average of $124.29 and a 200 day simple moving average of $121.90. The firm has a market cap of $170.73 billion, a P/E ratio of 36.10, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last posted its 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%. On average, equities research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued 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 of this dividend is Friday, February 21st. RTX's payout ratio is 70.99%.

Insider Activity at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred 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 in the company, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last 90 days. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On RTX

Institutional investors have recently bought and sold shares of the stock. CX Institutional boosted its position in RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company's stock valued at $7,539,000 after buying an additional 11,706 shares during the period. National Pension Service boosted its holdings in shares of RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company's stock worth $330,910,000 after purchasing an additional 375,781 shares during the period. LRI Investments LLC grew its stake in shares of RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company's stock worth $9,221,000 after purchasing an additional 4,732 shares during the last quarter. Napa Wealth Management purchased a new position in RTX during the 3rd quarter valued at about $1,307,000. Finally, Czech National Bank raised its position in RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company's stock valued at $33,396,000 after purchasing an additional 17,608 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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