RTX (NYSE:RTX) Stock Price Down 0.3% – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) were down 0.3% during mid-day trading on Wednesday . The stock traded as low as $135.19 and last traded at $135.31. Approximately 692,815 shares traded hands during trading, a decline of 87% from the average daily volume of 5,344,317 shares. The stock had previously closed at $135.66.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Susquehanna boosted their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Down 1.3 %

The firm has a market cap of $175.81 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The business has a 50-day moving average price of $128.38 and a two-hundred day moving average price of $122.94. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its quarterly earnings data 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%. On average, equities research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $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. Insiders sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds have recently made changes to their positions in RTX. 10Elms LLP purchased a new position in shares of RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new position in RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new stake in shares of RTX in the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.