RTX (NYSE:RTX) Shares Down 1.4% – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) fell 1.4% during trading on Friday . The company traded as low as $132.98 and last traded at $132.63. 1,571,701 shares changed hands during trading, a decline of 71% from the average session volume of 5,355,879 shares. The stock had previously closed at $134.47.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RTX shares. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $136.00 to $160.00 in a report on Wednesday. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, UBS Group raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Performance

The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $176.70 billion, a price-to-earnings ratio of 37.28, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a 50 day simple moving average of $127.15 and a 200 day simple moving average of $122.55.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 EPS 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 research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 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 that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

Institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its holdings in shares of RTX by 32.7% during the 3rd quarter. Intech Investment Management LLC now owns 50,497 shares of the company’s stock worth $6,118,000 after buying an additional 12,445 shares in the last quarter. Integrated Investment Consultants LLC bought a new position in shares of RTX during the 3rd quarter worth approximately $379,000. Pacer Advisors Inc. boosted its holdings in shares of RTX by 3.9% during the 3rd quarter. Pacer Advisors Inc. now owns 98,965 shares of the company’s stock worth $11,991,000 after buying an additional 3,676 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of RTX by 6.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 63,507 shares of the company’s stock worth $7,846,000 after buying an additional 3,818 shares in the last quarter. Finally, CFS Investment Advisory Services LLC bought a new position in shares of RTX during the 3rd quarter worth approximately $849,000. 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.