RTX (NYSE:RTX) Shares Down 0.4% – Here’s Why

RTX Co. (NYSE:RTX) dropped 0.4% on Wednesday . The company traded as low as $126.81 and last traded at $127.60. Approximately 539,828 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 5,581,768 shares. The stock had previously closed at $128.11.

Analyst Ratings Changes

Several analysts have issued reports on the company. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $142.00 to $147.00 in a report on Monday, February 24th. Finally, Morgan Stanley increased their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Five research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Up 0.1 %

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 fifty day simple moving average of $124.54 and a 200-day simple moving average of $121.97. The firm has a market cap of $170.88 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

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 issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Centaurus Financial Inc. increased its holdings in RTX by 40.6% in the 4th quarter. Centaurus Financial Inc. now owns 17,368 shares of the company’s stock valued at $2,010,000 after buying an additional 5,012 shares during the period. Wood Tarver Financial Group LLC bought a new position in RTX in the fourth quarter valued at approximately $163,000. TFR Capital LLC. acquired a new position in RTX during the fourth quarter valued at approximately $203,000. Probity Advisors Inc. acquired a new position in RTX during the fourth quarter valued at approximately $211,000. Finally, BridgePort Financial Solutions LLC acquired a new stake in shares of RTX in the 4th quarter valued at $1,395,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.