RTX (NYSE:RTX) Trading Down 1.4% - What's Next?

RTX Co. (NYSE:RTX - Get Free Report)'s share price was down 1.4% during trading on Friday . The company traded as low as $132.98 and last traded at $132.63. Approximately 1,571,701 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 5,355,879 shares. The stock had previously closed at $134.47.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Susquehanna raised their target price on RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Royal Bank of Canada increased their price objective on RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. UBS Group upgraded RTX from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, Vertical Research upgraded shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $166.40.

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 company has a 50 day simple moving average of $127.15 and a 200 day simple moving average of $122.56. The stock has a market cap of $178.69 billion, a P/E ratio of 37.70, a PEG ratio of 2.11 and a beta of 0.78.

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RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 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%. Sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 1.88%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio is currently 70.99%.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 44,415 shares of the company's stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RTX. 1620 Investment Advisors Inc. boosted its position in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares during the period. Fusion Capital LLC lifted its stake in shares of RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after buying an additional 80 shares during the last quarter. McDonough Capital Management Inc boosted its holdings in shares of RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after buying an additional 80 shares during the period. 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 valued at $253,000 after buying an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC raised its holdings in RTX by 0.5% in the 4th 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 period. 86.50% of the stock is currently owned by 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.