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

RTX Co. (NYSE:RTX) dropped 0.4% on Monday . The stock traded as low as $125.19 and last traded at $125.47. Approximately 755,364 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 6,766,655 shares. The stock had previously closed at $125.92.

Wall Street Analyst Weigh In

Several research firms have commented on RTX. Wells Fargo & Company decreased their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Citigroup raised their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Robert W. Baird raised their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, RTX has an average rating of “Hold” and an average target price of $162.50.

RTX Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $166.88 billion, a P/E ratio of 48.95, a P/E/G ratio of 2.24 and a beta of 0.82. The firm’s 50 day simple moving average is $120.91 and its two-hundred day simple moving average is $110.46.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. As a group, analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s dividend payout ratio is presently 98.82%.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Elgethun Capital Management raised its position in RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares during the period. Alpha Omega Wealth Management LLC increased its stake in shares of RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares in the last quarter. Lazari Capital Management Inc. increased its stake in shares of RTX by 1.6% in the second quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock worth $603,000 after purchasing an additional 95 shares in the last quarter. Fermata Advisors LLC increased its stake in shares of RTX by 4.3% in the third quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock worth $280,000 after purchasing an additional 96 shares in the last quarter. Finally, Motco increased its stake in shares of RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after purchasing an additional 99 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

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.