RTX (NYSE:RTX) Shares Down 1.1% – Here’s What Happened

RTX Co. (NYSE:RTX) was down 1.1% during mid-day trading on Thursday . The stock traded as low as $130.56 and last traded at $131.71. Approximately 1,097,759 shares were traded during trading, a decline of 80% from the average daily volume of 5,598,266 shares. The stock had previously closed at $133.15.

Analyst Ratings Changes

Several brokerages have recently commented on RTX. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, Susquehanna boosted their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus 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 stock has a market cap of $173.75 billion, a price-to-earnings ratio of 36.66, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a 50 day simple moving average of $129.13 and a 200-day simple moving average of $123.31.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. Research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on 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 directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division grew its stake in shares of RTX by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 31,998 shares of the company’s stock worth $4,238,000 after acquiring an additional 2,908 shares during the period. Versant Capital Management Inc grew its position in RTX by 73.3% in the 1st quarter. Versant Capital Management Inc now owns 5,593 shares of the company’s stock worth $741,000 after purchasing an additional 2,366 shares during the period. Park National Corp OH raised its stake in RTX by 4.3% during the 1st quarter. Park National Corp OH now owns 6,793 shares of the company’s stock valued at $900,000 after buying an additional 280 shares during the last quarter. Kera Capital Partners Inc. lifted its holdings in shares of RTX by 1.2% during the 1st quarter. Kera Capital Partners Inc. now owns 43,485 shares of the company’s stock valued at $5,760,000 after buying an additional 533 shares during the period. Finally, Marcum Wealth LLC boosted its stake in shares of RTX by 97.6% in the 1st quarter. Marcum Wealth LLC now owns 19,733 shares of the company’s stock worth $2,614,000 after buying an additional 9,745 shares during the last quarter. 86.50% of the stock is 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.