RTX (NYSE:RTX) Trading Down 0.2% – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) dropped 0.2% during trading on Thursday . The stock traded as low as $133.90 and last traded at $135.12. Approximately 885,463 shares changed hands during trading, a decline of 84% from the average daily volume of 5,366,973 shares. The stock had previously closed at $135.32.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RTX shares. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Wells Fargo & Company increased their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $136.00 to $160.00 in a research note on Wednesday. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Four 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Performance

The stock has a market capitalization of $176.70 billion, a P/E ratio of 37.28, a PEG ratio of 2.11 and a beta of 0.78. The company’s fifty day simple moving average is $127.15 and its two-hundred day simple moving average is $122.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. As a group, equities analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated 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 transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares during the period. Geode Capital Management LLC boosted its stake in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after buying an additional 576,214 shares during the period. Franklin Resources Inc. raised its stake in RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares during the last quarter. Finally, Norges Bank bought a new position in RTX during the fourth quarter worth $1,745,644,000. Institutional investors 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.