RTX (NYSE:RTX) Trading Down 0.2% - Here's What Happened

RTX Co. (NYSE:RTX - Get Free Report) dropped 0.2% on Thursday . The company traded as low as $133.90 and last traded at $135.12. Approximately 885,463 shares were traded during trading, a decline of 84% from the average daily volume of 5,366,973 shares. The stock had previously closed at $135.32.

Analyst Upgrades and Downgrades

A number of research firms have commented on RTX. Morgan Stanley boosted their price target on shares of RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. Vertical Research raised RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Susquehanna upped their price objective on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Bank of America raised their target price on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $136.00 to $160.00 in a report on Wednesday. Four 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 company's stock. According to MarketBeat, RTX currently has an average rating of "Moderate Buy" and an average target price of $166.40.

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 firm has a 50 day moving average of $127.15 and a two-hundred day moving average of $122.55. The stock has a market cap of $176.70 billion, a P/E ratio of 37.28, a P/E/G ratio of 2.11 and a beta of 0.78.

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RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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, research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company's stock, 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. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last quarter. Corporate insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On RTX

Large investors have recently bought and sold shares of the business. Prostatis Group LLC raised its position in RTX by 27.3% in the 4th quarter. Prostatis Group LLC now owns 6,238 shares of the company's stock valued at $722,000 after purchasing an additional 1,338 shares during the last quarter. Chancellor Financial Group WB LP acquired a new stake in shares of RTX in the fourth quarter valued at $286,000. 111 Capital bought a new position in shares of RTX in the fourth quarter valued at about $1,416,000. Wealth Enhancement Advisory Services LLC grew its holdings in RTX by 49.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 985,262 shares of the company's stock worth $114,014,000 after acquiring an additional 325,667 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its position in RTX by 2.1% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 217,531 shares of the company's stock valued at $25,173,000 after acquiring an additional 4,571 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

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.