RTX (NYSE:RTX) Trading Down 1.9% - Should You Sell?

RTX Co. (NYSE:RTX - Get Free Report) shares dropped 1.9% during trading on Monday . The stock traded as low as $126.81 and last traded at $126.46. Approximately 1,088,335 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 5,132,991 shares. The stock had previously closed at $128.89.

Analysts Set New Price Targets

RTX has been the subject of several recent analyst reports. UBS Group raised their target price on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company raised their target price on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Vertical Research raised shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, RTX currently has a consensus rating of "Buy" and an average target price of $163.53.

RTX Trading Up 0.2 %

The stock has a market capitalization of $160.89 billion, a P/E ratio of 33.94, a PEG ratio of 2.11 and a beta of 0.58. 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 business's 50 day simple moving average is $128.29 and its 200-day simple moving average is $123.75.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.09%. RTX's dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In other news, EVP Ramsaran Maharajh sold 19,431 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares of the company's stock, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, 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. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of RTX

Hedge funds have recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in RTX during the 3rd quarter worth $321,000. Tudor Financial Inc. bought a new position in shares of RTX in the 3rd quarter valued at $797,000. World Investment Advisors LLC increased its holdings in RTX by 37.1% in the 3rd quarter. World Investment Advisors LLC now owns 40,809 shares of the company's stock worth $4,944,000 after purchasing an additional 11,033 shares in the last quarter. Sfmg LLC raised its holdings in RTX by 4.7% during the 3rd quarter. Sfmg LLC now owns 73,978 shares of the company's stock worth $8,963,000 after purchasing an additional 3,306 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in RTX by 365.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 115,237 shares of the company's stock worth $13,962,000 after purchasing an additional 90,499 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

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.