RTX (NYSE:RTX) Shares Down 2.5% - Time to Sell?

RTX Co. (NYSE:RTX - Get Free Report)'s stock price dropped 2.5% on Monday . The stock traded as low as $121.38 and last traded at $122.68. Approximately 7,714,193 shares were traded during trading, an increase of 64% from the average daily volume of 4,715,731 shares. The stock had previously closed at $125.84.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America increased their price target on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Susquehanna increased their price objective on RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price on RTX from $151.00 to $156.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $163.07.

RTX Price Performance

The firm has a market capitalization of $167.17 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.06 and a beta of 0.82. 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 stock's 50 day moving average price is $121.03 and its two-hundred day moving average price is $120.77.

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

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX's dividend payout ratio is currently 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in RTX during the 4th quarter valued at $1,745,644,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi increased its stake in shares of RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock valued at $286,845,000 after buying an additional 2,094,834 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new position in RTX during the 4th quarter worth about $216,340,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.